Axxcess Wealth Management LLC lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 37.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,570 shares of the business services provider’s stock after selling 3,904 shares during the period. Axxcess Wealth Management LLC’s holdings in Automatic Data Processing were worth $1,695,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of ADP. Northwestern Mutual Wealth Management Co. acquired a new position in Automatic Data Processing during the second quarter worth approximately $13,283,000. Royal Capital Wealth Management LLC purchased a new stake in Automatic Data Processing in the second quarter valued at approximately $1,226,000. Canada Pension Plan Investment Board acquired a new stake in shares of Automatic Data Processing in the second quarter valued at approximately $152,706,000. Fulton Bank N.A. boosted its holdings in shares of Automatic Data Processing by 192.0% in the second quarter. Fulton Bank N.A. now owns 7,165 shares of the business services provider’s stock valued at $1,605,000 after acquiring an additional 4,711 shares during the period. Finally, Bank of America Corp DE purchased a new position in shares of Automatic Data Processing during the second quarter worth approximately $1,231,175,000. 80.03% of the stock is owned by hedge funds and other institutional investors.
Automatic Data Processing Trading Down 1.2% NASDAQ:ADP opened at $304.16 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $309.40. The firm has a market capitalization of $120.52 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 2.79 and a beta of 0.83. The business’s 50-day moving average is $275.45 and its two-hundred day moving average is $245.48.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Research analysts predict that Automatic Data Processing, Inc. will post 12.27 earnings per share for the current fiscal year. Automatic Data Processing Dividend Announcement The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, September 11th. Automatic Data Processing’s payout ratio is currently 62.16%.
Insider Transactions at Automatic Data Processing In other news, VP Joseph Desilva sold 631 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total value of $178,490.97. Following the completion of the transaction, the vice president owned 18,824 shares in the company, valued at approximately $5,324,744.88. This trade represents a 3.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $280.91, for a total value of $8,373,927.10. Following the sale, the chief executive officer directly owned 80,624 shares in the company, valued at approximately $22,648,087.84. This represents a 26.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 33,773 shares of company stock valued at $9,450,629 in the last three months. Corporate insiders own 0.15% of the company’s stock.
Wall Street Analyst Weigh In Several brokerages have recently weighed in on ADP. Wells Fargo & Company increased their target price on shares of Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. BMO Capital Markets increased their price target on Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Stifel Nicolaus increased their price target on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. Citigroup lifted their price objective on shares of Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Finally, Guggenheim boosted their price objective on shares of Automatic Data Processing from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $276.36.
Get Our Latest Stock Analysis on Automatic Data Processing
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Automatic Data Processing, Inc (NASDAQ: ADP) is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.
ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.
Founded in 1949, ADP serves businesses in the United States and international markets.
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A high yield can vanish the moment a recession hits, but four companies have quietly built something more valuable: dividends that keep climbing because the cash to fund them never runs out.
If you are at or near retirement, a dividend that rises every year from a payout the business can easily afford is worth more than a high yield that uses up most of a company’s cash. The first can keep growing through a recession. The second gets cut when a downturn hits. The four companies below pass a simple screen: each raised its dividend in the past year, and each pays that dividend out of free cash flow with room left over.
In the group, the company that spends the largest share of its cash on dividends still used only about 65% of its free cash flow on them last fiscal year. Yields here are modest. These stocks offer income that grows over time, and they should be judged that way.
Microsoft: Cloud Cash Pays for a Fresh Raise Despite Record Spending
Microsoft (NASDAQ: MSFT) | MSFT Price Prediction sells Windows, Office, and Azure cloud services. Azure passed $100B in annual revenue last fiscal year. The stock yields only 0.68%, so its appeal lies in dividend growth.
In September, the board raised the quarterly dividend to $0.98 from $0.91, a 7.7% increase, payable December 10. The dividend record shows a long string of raises that took the quarterly payment from $0.20 in late 2011 to today’s level.
In fiscal 2026, Microsoft generated $182.94B in operating cash flow (cash from the business before investment spending). After $115.95B of capital spending, free cash flow was $66.99B. Dividends took $26.45B of that, roughly 39%. Measured against earnings, the trailing $3.64 per share in dividends is about 20% of EPS of $17.95. Debt is low: debt-to-equity is about 0.29 and interest coverage is about 50.9x.
The case for more raises is demand. Commercial remaining performance obligation, which is contracted revenue not yet booked, grew 84% to $678 billion. The company expects to stay free cash flow positive in fiscal 2027.
Risk: Free cash flow fell 6.46% last year because capital spending rose 79.62%, and management expects spending to rise again this year. If AI infrastructure costs keep climbing faster than cash flow, there is less room for large dividend raises.
ADP: Double-Digit Raises From a Business That Needs Little Capital
ADP (NASDAQ: ADP) runs payroll and human resources services for more than 1.1 million clients. Its annualized dividend of $6.80 yields about 2.2% at the latest price of $307.94.
ADP raises its dividend faster than the other three. The quarterly payment rose from $ 1.54 to $ 1.70, a 10.4% increase. Before that, it rose step by step: $0.79, $0.91, $0.93, $1.04, $1.25, and $1.40, with no cuts on record.
The business needs very little capital spending, which is why the coverage looks so good. Fiscal 2026 operating cash flow rose 10.15% to $5.44B, while capital spending was only $196.6M. That left about $5.24B in free cash flow against $2,626.3M in dividends, or about 50% of free cash flow. Against earnings, the payout ratio is about 60% of EPS of $11.01. ADP also bought back $2,083.3M of stock. The CFO called those buybacks an addition to the company’s “long-standing commitment to growing our dividend.”
The case for more raises is steady growth. Guidance calls for adjusted diluted EPS growth of 9-11% in fiscal 2027. Interest earned on client funds is expected to reach $1.54-$1.56B, and Employer Services retention is held at 92.1%.
Risk: AI could change how companies handle payroll and HR, and that uncertainty hangs over the whole industry. If AI tools reduce how many clients ADP has or how much each one pays, earnings growth and dividend growth would slow together.
Apple: The Smallest Yield With the Deepest Coverage
Apple (NASDAQ: AAPL) makes iPhones, Macs, and wearables and sells services to more than two and a half billion active devices. The yield is just 0.31%, the lowest of the four.
Apple raises its dividend every year, though by small amounts. The quarterly dividend rose by 4%. Apple’s dividend record starts in 2012. Since then, every year’s payment has been higher than the year before once you adjust for stock splits.
The dividend is a small fraction of Apple’s cash. In fiscal 2025, operating cash flow of $111.48B minus $12.72B of capital spending left $98.77B in free cash flow. Dividends of $15.42B used about 16% of it. Against EPS of $8.84, the payout ratio is roughly 12%. Apple spent $90.71B on buybacks that year, showing how much cash it has beyond dividend needs. The company ended its latest quarter with $147 billion in cash and marketable securities against $84 billion of debt.
The case for more is services, which bring in steady, recurring revenue. Services revenue reached $30.7 billion, up 12%, and paid subscriptions passed one and a half billion.
Risk: Apple returns most of its cash through buybacks. Raises are in the 4% range, and it will take many years to produce meaningful income. The stock also trades at about 39 times trailing earnings.
Procter & Gamble: A Dividend King Covering Its Payout With Room to Spare
Procter & Gamble (NYSE: PG) owns household brands such as Tide, Pampers, Gillette, and Crest. At the latest price of $165.59 and an annualized dividend of $4.354, the yield is about 2.6%, the highest in this group.
P&G has the longest dividend record of the four. The company’s own filing notes its 70th consecutive year of dividend increases and 136th consecutive year of dividend payments, making it a Dividend King (a company with at least 50 straight years of increases). The most recent raise brought the quarterly dividend from $ 1.0568 to $ 1.0885, a 3% increase.
Fiscal 2026 free cash flow rose 12.74% to $15.84B, and dividends of $10.23B used about 65% of it. That is the highest share of the four, but still comfortable for a consumer staples company. The forward dividend works out to roughly 62% of trailing EPS of $6.99. The new fiscal year started well: first-quarter free cash flow was $4.40B against $2.6 billion in dividends.
The case for more raises is reliable demand. Organic sales grew 4.0%, and all 10 product categories grew. Core EPS of $2.00 exceeded estimates. The stock rose 5.58% in the most recent session. Management plans to pay over $10 billion in dividends in fiscal 2027.
Risk: P&G expects about $1.4B in after-tax commodity cost pressures this fiscal year, and core EPS guidance is only $6.89-$7.11. With earnings growing that slowly, raises will likely stay small.
Who Should Own These Four Dividend Growers
These stocks suit retirees and near-retirees who want their dividend income to grow faster than inflation and who can accept a starting yield under 3%. P&G and ADP offer the most income today. Microsoft and Apple have the most cash left over after paying dividends. All four fund rising dividends from free cash flow with room to spare, a record that supports their role as long-term income sources.
Contact [email protected] for any questions or corrections.
Key Takeaways ADP's Q1 revenues are projected to rise 5.6% y/y to $5.5B, while EPS is expected to grow 11.7% to $2.78.ES revenues are expected to grow 5.3%, fueled by HR outsourcing demand and business bookings.ADP's PEO revenues are projected to rise 5.8%, while interest on client funds is expected to grow 15.9%.
ADP (ADP - Free Report) is scheduled to release first-quarter fiscal 2027 results on Oct. 28, before market open.
ADP has a decent earnings surprise history, surpassing the Zacks Consensus Estimate in the trailing four quarters, with an average surprise of 2.1%.
ADP’s Q1 ExpectationsThe Zacks Consensus Estimate for the top line is set at $5.5 billion, indicating 5.6% year-over-year growth. The consensus estimate for the Employer Services (ES) segment revenues is pinned at $3.7 billion, indicating 5.3% year-over-year growth.
The ES segment is expected to have benefited from solid business bookings, persistent demand for HR outsourcing solutions, and expansion across domestic and international markets.
The segment is expected to have experienced significant growth from the growing adoption of ADP Lyric HCM, Global Payroll and WorkForce Suite. Additional support is expected from investments in AI-driven sales tools, prudent pricing contribution and healthy client retention.
The Zacks Consensus Estimate for Professional Employer Organization services revenues is pegged at $1.8 billion, indicating a 5.8% year-over-year gain. Continued business bookings growth and an expanding worksite employee base are anticipated to have supported this segment’s growth. Growth across the PEO segment is likely to have been further supported by enhanced customer satisfaction and stable retention.
The consensus mark for Interest on Funds held for clients is at $332.3 million, suggesting 15.9% year-over-year growth. Higher average investment yields and expanding client fund balances are expected to have boosted this segment’s revenue growth.
The consensus estimate for earnings per share is set at $2.78, implying year-over-year growth of 11.7%. The bottom line is anticipated to have improved on the back of AI-driven operational efficiencies and service delivery cost strip-down.
What Our Model Says About ADPOur proven model does not conclusively predict an earnings beat for ADPthis time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here. You can uncover the best stocks before they are reported with our Earnings ESP Filter.
ADP has an Earnings ESP of 0.00% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to ConsiderHere are a few stocks from the broader Computer and Technology sector, which, according to our model, have the right combination of elements to beat on earnings this season.
Affirm (AFRM - Free Report) : The Zacks Consensus Estimate for the company’s first-quarter fiscal 2027 revenues is pinned at $1.2 billion, indicating a 30% year-over-year jump. For earnings, the consensus mark is set at 35 cents per share, suggesting 52.2% year-over-year growth. The company beat the Zacks Consensus Estimate in the past four quarters, the average surprise being 379.4%.
AFRM has an Earnings ESP of +11.03% and a Zacks Rank #2 at present.
The company is scheduled to declare first-quarter fiscal 2027 results on Nov. 5.
Amphenol (APH - Free Report) : The Zacks Consensus Estimate for the company’s third-quarter 2026 revenues is kept at $9.4 billion, implying 52.4% year-over-year growth. For earnings, the consensus mark is pinned at 73 cents per share, suggesting a 55.3% jump from that reported in the year-ago quarter. The company beat the Zacks Consensus Estimate in the past four quarters, with an average surprise of 11.8%.
APH currently has an Earnings ESP of +1.72% and a Zacks Rank #2. The company is scheduled to declare third-quarter 2026 results on Oct. 28.
In its upcoming report, Automatic Data Processing (ADP - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $2.78 per share, reflecting an increase of 11.7% compared to the same period last year. Revenues are forecasted to be $5.47 billion, representing a year-over-year increase of 5.6%.
The consensus EPS estimate for the quarter has undergone a downward revision of 39.2% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific ADP metrics that are routinely monitored and predicted by Wall Street analysts.
According to the collective judgment of analysts, 'Segment revenues- Employer Services' should come in at $3.68 billion. The estimate indicates a year-over-year change of +5.3%.
The consensus among analysts is that 'Revenues- Interest on funds held for clients' will reach $332.32 million. The estimate indicates a change of +15.9% from the prior-year quarter.
The average prediction of analysts places 'Revenues- PEO revenues' at $1.78 billion. The estimate indicates a year-over-year change of +5.6%.
The combined assessment of analysts suggests that 'Segment revenues- PEO Services' will likely reach $1.79 billion. The estimate points to a change of +5.8% from the year-ago quarter.
Analysts forecast 'Revenues- Revenues, other than interest on funds held for clients and PEO revenues' to reach $3.35 billion. The estimate indicates a year-over-year change of +4.4%.
View all Key Company Metrics for ADP here>>>
Shares of ADP have experienced a change of +17% in the past month compared to the -1.2% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), ADP is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Automatic Data Processing Inc (ADP) Stock Up 4.6% and Still Undervalued -- GF Score: 96/100
On October 22, 2026, Automatic Data Processing Inc ADP shares rose 4.6%, reaching a current price of $307.94. The stock has traded between $188.16 and $296.14 over the past year, making today's movement a notable increase within this range.
GF Value™ verdict indicates the stock is currently 0.4% undervalued, with a fair value estimated at $309.08. ADP holds a GF Score™ of 96/100, signifying a strong overall performance in terms of financial health and growth prospects. Insider activity has shown a net selling of $13.1 million over the past year, suggesting cautious sentiment among company insiders.Is ADP Overvalued or Undervalued?Automatic Data Processing Inc ADP is currently trading at $307.94, which is slightly below the GF Value™ estimate of $309.08. This places the stock in a position of being 0.4% undervalued, allowing for a modest margin of safety for potential investors. The GF Valuation label categorizes the stock as fairly valued, yet the close proximity to the GF Value™ estimate indicates that there may be limited upside potential in the short term. GF Value™ is GuruFocus's proprietary intrinsic value estimate, derived from a mix of historical trading multiples, past business growth, and future performance predictions.
Being slightly undervalued presents an opportunity for investors, particularly those focused on dividend sustainability. However, the recent trend of insider selling may raise questions about the long-term outlook and whether the current valuation reflects the company's true growth potential.
How Does ADP's Valuation Compare to Its History?Metric Current Historical P/E (TTM) 28.1x 29.6x (5-Year Median) Forward P/E 25.1x N/AADP's current P/E ratio of 28.1x is 5% below its 5-year median of 29.6x, indicating that the stock is trading at a lower valuation compared to its historical averages. This analysis aligns with the GF Value™ verdict, suggesting that while ADP is fairly valued, it is currently positioned attractively against its historical valuation metrics.
What Does ADP's GF Score™ Tell Us?The GF Score™ evaluates a company’s financial strength, profitability, growth potential, valuation metrics, and momentum. ADP's impressive score of 96/100 reflects strong fundamentals, particularly in growth and momentum, which are both rated at 10/10. The valuation rank is slightly lower at 9/10, indicating that while the stock is fairly valued, it may not be a bargain at current levels. The financial strength score of 6/10 suggests some caution, while the profitability rank of 9/10 highlights strong earnings capabilities.
Metric Rating GF Score™ 96/100 Financial Strength 6/10 Profitability 9/10 Growth 10/10 Valuation 9/10 Momentum 10/10In summary, ADP demonstrates robust growth and momentum, supported by solid profitability metrics. However, its financial strength could be improved, indicating that while the company performs well overall, there are areas to monitor closely.
What Are Gurus and Insiders Doing with ADP?Currently, 11 gurus hold positions in ADP, with 8 increasing their stakes and 3 trimming their holdings in recent quarters. This indicates a generally positive sentiment among professional investors, which aligns with the strong GF Score™. However, the significant net selling by insiders, amounting to $13.1 million over the past year, raises concerns about the potential future direction of the company, suggesting that insiders may not view the current valuation as particularly attractive.
This mixed signal from insider activity—while gurus are showing interest, insiders are selling—suggests that potential investors should remain cautious and consider these dynamics when evaluating ADP's stock.
What This Means for InvestorsBased on the GF Value™ analysis, Automatic Data Processing Inc ADP appears to be fairly valued at its current price of $307.94, with a slight undervaluation of 0.4% compared to the GF Value™ estimate. The stock presents a moderate opportunity for investors, particularly those seeking dividend sustainability, but should be approached with caution due to insider selling trends. For detailed insights, visit the Automatic Data Processing Inc (ADP) stock page for comprehensive analysis.
Frequently Asked QuestionsWhat is ADP's GF Score™?
ADP's GF Score™ is 96/100, indicating strong performance relative to its peers in terms of financial health, profitability, and growth potential.
Is ADP overvalued or undervalued?
ADP is currently considered 0.4% undervalued based on the GF Value™ estimate, suggesting a slight opportunity for investors.
What is ADP's P/E ratio?
ADP's P/E ratio is 28.1x, which is below its 5-year median P/E of 29.6x, indicating that the stock is trading at a lower valuation compared to its historical averages.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Disclosures
I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.
CoreWeave's bonds and stock are cratering, and the All-In hosts are asking out loud whether the entire AI trade is starting to crack. Before you panic or pile in, there are two quieter corners of the market that income investors…
Debt at CoreWeave (NASDAQ:CRWV) has become a stress test for the whole AI trade. On the October 17, 2026 episode of the All-In podcast, the hosts asked whether the AI trade is breaking. They noted, “we’re in year four or five of this bull run” and raised the possibility that “we may hit the R word. Yeah, recession.”
The trigger was CoreWeave. On the All-In Podcast, the hosts said its bonds were being marked down to 80% and that the stock fell 15 to 20% in a few days. The selloff has kept going. Shares traded at $61.90 as of 2:35 PM ET today, down 22.88% over the past week and 54.77% over the past year.
Why CoreWeave Became the AI Trade’s Pressure Gauge
CoreWeave rents GPU computing power to AI labs, hyperscalers, and enterprises, and it largely funds that expansion with borrowed money. The growth is real. Second-quarter revenue rose 112.3% to $2.575 billion, and backlog reached about $104 billion as of June 30, according to its Q2 filing with the SEC. But capex of $6.42 billion pushed free cash flow down to -$5.74 billion, and interest expense climbed to $640 million from $267 million a year earlier.
Bloomberg Tech host Ed Ludlow said CoreWeave carries “$52 billion of debt on its balance sheet” and that its latest quarterly interest bill was larger than its operating income. Debt-to-equity is 8.94, and net debt-to-EBITDA (debt measured against operating cash earnings) is 10.75. Echoing the All-In Podcast’s concerns, Ludlow said CoreWeave’s 2032 bonds yielded 15%, while the 10-year Treasury traded at 5.09%. That gap signals real lender risk.
Bull Case: The Hosts Still See Massive Demand
The hosts also pushed back on the panic. They pointed to “massive demand, token prices coming down, but token consumption going way up.” They added that GPUs once expected to last three to five years may “keep going into year six, seven, eight for inference alone.” That would stretch the useful life of the chips that back CoreWeave’s loans. They argued that sharp swings come with “underwriting to multi-trillion-dollar outcomes.”
Some of CoreWeave’s numbers back that view. Operating cash flow turned positive at $679 million, compared with -$251 million a year ago, and adjusted EBITDA doubled to $1.51 billion. Goldman Sachs (NYSE:GS | GS Price Prediction) upgraded the stock to Buy on Monday, calling the debt worries overblown. Even so, CoreWeave’s dividend yield is close to zero at ~0.10%, so shareholders rely almost entirely on the share price.
Where Income Investors Near Retirement Can Find Ballast
If you live off your portfolio, the CoreWeave selloff shows how leverage can work against you. More solid ground tends to come from companies that generate far more free cash flow than they pay out in dividends and have long records of raising those payouts. Here are two examples.
Procter & Gamble
Procter & Gamble (NYSE:PG) yields 2.67% and just reached its 70th consecutive year of dividend increases, putting it in the exclusive Dividend Kings club (we ranked ten of them by valuation in a free report here). Unlike the CoreWeave debt the All-In Podcast highlighted, P&G’s fiscal 2026 free cash flow of $15.835 billion covered about $10 billion in planned dividends roughly 1.58 times. Its beta of 0.377 signals far less volatility than the market. The risks: fourth-quarter organic sales were flat, and management expects about $1 billion in after-tax cost pressures in fiscal 2027.
ADP
Automatic Data Processing (NASDAQ:ADP) yields 2.3%. Fiscal 2026 operating cash flow of $5,441.2 million, minus $196.6 million in capex, left $5,244.6 million in free cash flow. That covered the $2,626.3 million it paid in dividends about 2.0 times. Management expects adjusted EPS growth of 9% to 11% in fiscal 2027. Payroll volumes rise and fall with the economy, though, and U.S. pay-per-employee growth is expected at just 0% to 1%. A recession would slow it further.
What to Watch Before the Next Leg
Both yields are below the 5.09% Treasury, so their value to income investors comes from dividend growth and steady cash generation. For CoreWeave, the key question in its next report is whether interest costs keep running ahead of operating income. In the near term, Meta Platforms’ (NASDAQ:META) third-quarter results this week will offer a key read on whether hyperscaler spending is holding up.
Contact [email protected] for any questions or corrections.
, /PRNewswire/ -- For the four weeks ending October 3, 2026, U.S. private employers added an average of 18,500 jobs per week, according to the NER Pulse, a weekly update of the monthly ADP National Employment Report (NER).
Hiring decelerated from the previous week. These numbers are preliminary and could change as new data is added.
ADP Research logo
Week ending
Change
(Four-week moving
average, seasonally
adjusted)
10/3/2026
18,500
9/26/2026
26,000
9/19/2026
25,250
9/12/2026
22,500
9/5/2026
20,000
8/29/2026
16,750
8/22/2026
12,250
8/15/2026
10,000
8/8/2026
11,750
8/1/2026
9,500
7/25/2026
8,250
7/18/2026
11,000
The NER Pulse is an estimate of the week-over-week change in employment based on a four-week moving average. These estimates are based on ADP's finely tuned, high-frequency data. The data is seasonally adjusted and have a two-week lag to allow for more complete and accurate estimates of real-time employment trends.
The NER Pulse, including 12 weeks of historical data, publishes every Tuesday at 8:15 a.m. ET, except weeks when ADP Research publishes the monthly National Employment Report which is built on a reference week that includes the 12th day of the month. The press release is available Tuesdays at 8:15 a.m. ET in the ADP Media Center. The NER Pulse is also available shortly after 8:15 a.m. ET on release days at ADP Research and in Main Street Macro.
The next NER Pulse will be released October 27, 2026. For upcoming release dates please refer to the calendar on the NER website.
The ADP National Employment Report and the NER Pulse are produced by ADP Research in collaboration with the Stanford Digital Economy Lab.
About ADP Research
The mission of ADP Research is to make the future of work more productive through data-driven discovery. Companies, workers, and policy makers rely on our finely tuned data and unique perspective to make informed decisions that impact workplaces around the world.
To subscribe to monthly email alerts or obtain additional information about ADP Research, including employment and pay data, methodology, and a calendar of release dates, please visit https://www.adpresearch.com.
About ADP (NASDAQ: ADP)
ADP has been shaping the world of work with innovation and expertise for more than 75 years. As a global leader in HR and payroll solutions, ADP continuously works to solve business challenges for our clients and their workers, from simple, easy-to-use tools for small businesses to fully integrated platforms for global enterprises – and everything in between. Always Designing for People means we're focused on just that – people. We use our unmatched AI-driven insights and proven expertise to design innovative solutions that help people achieve greater success at work. More than 1.1 million clients across 140+ countries rely on ADP's exceptional service to support their people and drive their business forward. HR, Talent, Time Management, Benefits, Compliance, and Payroll. Learn more at ADP.com.
ADP, the ADP logo, and Always Designing for People, ADP National Employment Report, and ADP Research are registered trademarks of ADP, Inc. All other marks are the property of their respective owners.
Six dividend stocks, one portfolio, two very different tax outcomes depending on where you hold them. The account you choose today quietly determines how much of every future payout you actually get to keep.
At the 24% federal bracket, a $400,000 portfolio of six dividend stocks generates about $11,033 a year in dividends. In a taxable account, roughly $1,655 goes to the IRS each year. Inside a Roth IRA, all of it stays in the account.
Same Six Stocks, Two Very Different Paychecks This portfolio places an equal share, about $66,667, into each of six companies with verified records of raising their payouts. The equal-weight average yield is 2.76%.
ADP (NASDAQ:ADP | ADP Price Prediction): yields 2.32%. Its quarterly dividend rose from $1.54 to $1.70, and each raise adds to the taxable income a brokerage account reports. Aflac (NYSE:AFL): yields 2.02%, backed by 43 consecutive years of dividend increases. That long a run builds decades of payouts that a Roth keeps out of IRS reach. McDonald’s (NYSE:MCD): yields 2.98%. Its latest quarterly dividend of $1.93, up from $1.86, adds income that gets taxed every year in a brokerage account. PepsiCo (NASDAQ:PEP): yields 4.26%, the highest in the group. That makes it the largest single source of tax drag and the best candidate for Roth location in this group. Procter & Gamble (NYSE:PG): yields 2.71%. P&G noted its 70th consecutive year of dividend increases, the kind of record that makes decades of untaxed growth realistic. Colgate-Palmolive (NYSE:CL): yields 2.26%. Its quarterly payout went from $0.52 to $0.53. The raises are small, but they keep coming, and each one goes untaxed in a Roth. All six pay qualified dividends. Those are taxed at 0%, 15%, or 20% if you hold the shares for more than 60 days during the 121 days around the ex-dividend date. At the 24% bracket, the qualified rate is 15%. That reduces the Roth gap compared with BDCs or mortgage REITs. If the same income were taxed as ordinary income, the bill would be $2,648.
Account Gross Income Federal Tax Net Income Roth IRA $11,033 $0 $11,033 Taxable (15% qualified) $11,033 $1,655 $9,378 The Roth advantage is $1,655 a year, or $16,550 over 10 years, assuming no growth.
Bracket Multiplier: Top Earners Lose the Most Under IRS brackets, the 37% rate starts at $626,351 for single filers and $751,601 for joint filers. Top-bracket filers generally pay the 20% qualified rate.
Ordinary Bracket Qualified Rate Taxable Net Annual Roth Advantage 22% 15% $9,378 $1,655 24% 15% $9,378 $1,655 32% 15% $9,378 $1,655 37% 20% $8,827 $2,207 Higher earners can also owe the net investment income tax, which applies to gross income from interest, dividends, annuities, royalties, and rents. That makes the real gap larger than the table shows.
Growth Cost Most Investors Never See Reinvest the $1,655 annual delta at a conservative 3%, and it grows to about $18,973 after 10 years and $44,470 after 20. Without reinvestment, the 20-year total would be $33,100. At the 20% rate, the 20-year figure hits $59,294.
These figures keep every dividend flat, which understates the cost for this group. P&G increased its dividend by 3% in fiscal 2026. Each raise like that widens the annual tax bill in a taxable account. Read these totals as the permanent cost of holding these stocks outside a Roth.
What to Do Before Your Next Tax Filing Get out your 1099-DIV and split box 1a from box 1b. Ordinary income costs more in a taxable account, so move it to the front of the line for Roth space. If PepsiCo or another 4%-plus yielder sits in a taxable account, multiply its annual dividends by your qualified rate. That shows what it costs you each year to hold it outside a Roth. Before ruling out a Roth conversion, compare the upfront tax with the 20-year growth delta for your bracket. The quiet years between your last paycheck and your first RMD are usually the cheapest time to convert, which we sized up in a free guide: The Roth Window. Use the dividend growth rates of the stocks you actually own. Contact [email protected] for any questions or corrections.
Onyx Bridge Wealth Group LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,328 shares of the business services provider’s stock, valued at approximately $601,000.
Several other institutional investors have also modified their holdings of the stock. SteelPeak Wealth LLC acquired a new position in Automatic Data Processing in the third quarter valued at $225,000. Founders Grove Wealth Partners LLC increased its position in shares of Automatic Data Processing by 4.9% during the third quarter. Founders Grove Wealth Partners LLC now owns 2,226 shares of the business services provider’s stock worth $574,000 after purchasing an additional 103 shares in the last quarter. Burns Matteson Capital Management LLC acquired a new stake in shares of Automatic Data Processing during the third quarter worth about $663,000. Robertson Stephens Wealth Management LLC lifted its stake in Automatic Data Processing by 2.4% in the third quarter. Robertson Stephens Wealth Management LLC now owns 2,178 shares of the business services provider’s stock valued at $566,000 after buying an additional 51 shares during the last quarter. Finally, 1834 Investment Advisors Co. lifted its stake in Automatic Data Processing by 193.8% in the third quarter. 1834 Investment Advisors Co. now owns 9,413 shares of the business services provider’s stock valued at $2,429,000 after buying an additional 6,209 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on ADP. BMO Capital Markets raised their target price on shares of Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Morgan Stanley upped their price target on shares of Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Stifel Nicolaus increased their price target on shares of Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. TD Cowen increased their price target on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Finally, Citigroup raised their price objective on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $273.50.
Get Our Latest Analysis on Automatic Data Processing
Automatic Data Processing Stock Performance
NASDAQ:ADP opened at $288.90 on Monday. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $290.12. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a fifty day moving average price of $272.99 and a two-hundred day moving average price of $242.46. The stock has a market capitalization of $114.48 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 2.62 and a beta of 0.83.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last issued its earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the previous year, the firm earned $2.26 EPS. The business’s revenue was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 12.27 earnings per share for the current fiscal year.
Automatic Data Processing Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were paid a $1.70 dividend. The ex-dividend date was Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.4%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.16%.
Insider Activity at Automatic Data Processing
In related news, CEO Maria Black sold 29,810 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the sale, the chief executive officer owned 80,624 shares of the company’s stock, valued at approximately $22,648,087.84. The trade was a 26.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Desilva sold 631 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total transaction of $178,490.97. Following the transaction, the vice president owned 18,824 shares in the company, valued at $5,324,744.88. The trade was a 3.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 33,773 shares of company stock worth $9,450,629 over the last three months. 0.15% of the stock is currently owned by company insiders.
(Free Report)
Automatic Data Processing, Inc (NASDAQ: ADP) is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.
ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.
Founded in 1949, ADP serves businesses in the United States and international markets.
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Curated Wealth Partners LLC decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 99.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,032 shares of the business services provider’s stock after selling 153,911 shares during the period. Curated Wealth Partners LLC’s holdings in Automatic Data Processing were worth $266,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Polaris Financial Partners bought a new stake in Automatic Data Processing in the third quarter worth $25,000. Whipplewood Advisors LLC increased its position in Automatic Data Processing by 2,740.0% during the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after buying an additional 137 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new position in Automatic Data Processing during the second quarter valued at about $34,000. Cornerstone Financial Management LLC raised its holdings in Automatic Data Processing by 59.2% during the second quarter. Cornerstone Financial Management LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after buying an additional 58 shares in the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in Automatic Data Processing during the second quarter valued at about $36,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.
Insiders Place Their Bets In other Automatic Data Processing news, VP David Kwon sold 798 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $280.00, for a total value of $223,440.00. Following the sale, the vice president owned 13,193 shares of the company’s stock, valued at $3,694,040. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian Michaud sold 120 shares of Automatic Data Processing stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the transaction, the vice president directly owned 18,442 shares in the company, valued at approximately $5,158,227.40. This represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 33,773 shares of company stock worth $9,450,629. Corporate insiders own 0.15% of the company’s stock.
Wall Street Analyst Weigh In A number of brokerages have weighed in on ADP. Stifel Nicolaus boosted their price target on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Guggenheim increased their price objective on Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, July 30th. UBS Group raised their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Cantor Fitzgerald raised their price objective on Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Finally, Morgan Stanley boosted their target price on Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $273.50. Get Our Latest Report on Automatic Data Processing
Automatic Data Processing stock opened at $288.90 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $290.12. The firm has a fifty day moving average price of $272.99 and a two-hundred day moving average price of $242.21. The firm has a market cap of $114.48 billion, a price-to-earnings ratio of 26.41, a P/E/G ratio of 2.62 and a beta of 0.83.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.05. The company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, analysts forecast that Automatic Data Processing, Inc. will post 12.27 earnings per share for the current year.
Automatic Data Processing Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were paid a dividend of $1.70 per share. The ex-dividend date was Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.4%. Automatic Data Processing’s dividend payout ratio is presently 62.16%.
Automatic Data Processing Profile (Free Report)
Automatic Data Processing, Inc (NASDAQ: ADP) is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.
ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.
Founded in 1949, ADP serves businesses in the United States and international markets.
Recommended Stories Five stocks we like better than Automatic Data Processing Rocket Lab’s Neutron Delay Leaves Wall Street Bullish But Raises the Stakes for 2027 ManpowerGroup Stock Sinks on Q3 Results, But Fundamentals Stay Solid Does the AI Selloff Put Alphabet’s Breakout in Doubt? Bank Earnings Are Mixed—These 2 ETFs Offer Very Different Paths to a Recovery Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report).
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ADP Chief Economist and ESG Officer Nela Richardson says the US has a lopsided economy. She says new data shows inflation is running hot while paychecks are not keeping up.
First Citizens Bank & Trust Co. raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 48.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,857 shares of the business services provider’s stock after acquiring an additional 5,797 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Automatic Data Processing were worth $4,608,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Automatic Data Processing in the 2nd quarter valued at $8,097,229,000. Bank of America Corp DE bought a new position in shares of Automatic Data Processing in the 2nd quarter worth $1,231,175,000. Deutsche Bank AG acquired a new stake in shares of Automatic Data Processing during the second quarter worth $994,937,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Automatic Data Processing by 3.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,251,447 shares of the business services provider’s stock worth $952,112,000 after purchasing an additional 129,376 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Automatic Data Processing in the second quarter valued at about $725,513,000. 80.03% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth Several brokerages have commented on ADP. BMO Capital Markets upped their target price on shares of Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Citigroup lifted their target price on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Cantor Fitzgerald boosted their price target on shares of Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. TD Cowen raised their target price on shares of Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Finally, Morgan Stanley boosted their price target on Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $273.50.
Read Our Latest Stock Analysis on Automatic Data Processing Automatic Data Processing Stock Performance Shares of Automatic Data Processing stock opened at $280.32 on Thursday. The company’s 50 day moving average price is $272.40 and its two-hundred day moving average price is $241.28. The firm has a market capitalization of $111.08 billion, a P/E ratio of 25.62, a P/E/G ratio of 2.50 and a beta of 0.83. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $288.00. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the previous year, the business earned $2.26 earnings per share. Automatic Data Processing’s revenue was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 12.27 earnings per share for the current fiscal year.
Automatic Data Processing Announces Dividend The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were issued a dividend of $1.70 per share. The ex-dividend date was Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.4%. Automatic Data Processing’s dividend payout ratio is 62.16%.
Insider Buying and Selling In related news, VP Brian Michaud sold 120 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $279.70, for a total transaction of $33,564.00. Following the completion of the sale, the vice president directly owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Desilva sold 631 shares of Automatic Data Processing stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total transaction of $178,490.97. Following the completion of the sale, the vice president directly owned 18,824 shares in the company, valued at approximately $5,324,744.88. This represents a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 33,773 shares of company stock worth $9,450,629. 0.15% of the stock is owned by corporate insiders.
(Free Report)
Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management and business outsourcing solutions. The company helps organizations manage payroll, tax withholding and compliance, employee benefits, time and attendance, workforce management, talent acquisition, and human resources administration.
ADP offers cloud-based platforms and related services designed for businesses of different sizes, from small companies to large multinational employers. Its offerings include payroll and HR software, workforce analytics, talent management tools, retirement and insurance-related administration, and professional employer organization services through ADP TotalSource.
Further Reading Five stocks we like better than Automatic Data Processing Tesla Wants to Make Its Own Chips—What Could Go Wrong? IREN Limited’s AI Pivot Gains Traction—But Can Its Data Centers Deliver? PBF Energy’s Stunning Rally Faces a Critical Test Citi Stock Falls Despite Earnings Beat: What Investors Need to Know Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report).
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, /PRNewswire/ -- For the four weeks ending September 26, 2026, U.S. private employers added an average of 24,750 jobs per week, according to the NER Pulse, a weekly update of the monthly ADP National Employment Report (NER).
After five straight weeks of strengthening, hiring slowed. These numbers are preliminary and could change as new data is added.
ADP Research logo Week ending
Change
(Four-week moving
average, seasonally
adjusted)
9/26/2026
24,750
9/19/2026
25,250
9/12/2026
22,500
9/5/2026
20,000
8/29/2026
16,750
8/22/2026
12,250
8/15/2026
10,000
8/8/2026
11,750
8/1/2026
9,500
7/25/2026
8,250
7/18/2026
11,000
7/11/2026
14,500
The NER Pulse is an estimate of the week-over-week change in employment based on a four-week moving average. These estimates are based on ADP's finely tuned, high-frequency data. The data is seasonally adjusted and have a two-week lag to allow for more complete and accurate estimates of real-time employment trends.
The NER Pulse, including 12 weeks of historical data, publishes every Tuesday at 8:15 a.m. ET, except weeks when ADP Research publishes the monthly National Employment Report which is built on a reference week that includes the 12th day of the month. The press release is available Tuesdays at 8:15 a.m. ET in the ADP Media Center. The NER Pulse is also available shortly after 8:15 a.m. ET on release days at ADP Research and in Main Street Macro.
The next NER Pulse will be released October 20, 2026. For upcoming release dates please refer to the calendar on the NER website.
The ADP National Employment Report and the NER Pulse are produced by ADP Research in collaboration with the Stanford Digital Economy Lab.
About ADP Research
The mission of ADP Research is to make the future of work more productive through data-driven discovery. Companies, workers, and policy makers rely on our finely tuned data and unique perspective to make informed decisions that impact workplaces around the world.
To subscribe to monthly email alerts or obtain additional information about ADP Research, including employment and pay data, methodology, and a calendar of release dates, please visit https://www.adpresearch.com.
About ADP (NASDAQ: ADP)
ADP has been shaping the world of work with innovation and expertise for more than 75 years. As a global leader in HR and payroll solutions, ADP continuously works to solve business challenges for our clients and their workers, from simple, easy-to-use tools for small businesses to fully integrated platforms for global enterprises – and everything in between. Always Designing for People means we're focused on just that – people. We use our unmatched AI-driven insights and proven expertise to design innovative solutions that help people achieve greater success at work. More than 1.1 million clients across 140+ countries rely on ADP's exceptional service to support their people and drive their business forward. HR, Talent, Time Management, Benefits, Compliance, and Payroll. Learn more at ADP.com.
ADP, the ADP logo, and Always Designing for People, ADP National Employment Report, and ADP Research are registered trademarks of ADP, Inc. All other marks are the property of their respective owners.
Key Takeaways ADP shares gained 43.4% in three months, outpacing the industry's 30.4% growth, reflecting strong momentum.ADP expects 5-6% revenue growth in fiscal 2027, supported by HCM technology, AI integration & acquisitions.ADP generated $5.44B in fiscal 2026 operating cash flow, supporting dividends, buybacks & flexibility. Automatic Data Processing, Inc. (ADP - Free Report) has delivered impressive performance over the past six months and shows potential to sustain its near-term momentum. Therefore, if you have not yet taken advantage of the share price appreciation of this leading provider of cloud-based human capital management (HCM) technology solutions, you should add the stock to your portfolio.
What Makes ADP an Attractive Pick? An Outperformer: A glimpse at the company’s price trend reveals that the stock has had a decent run over the past six months. Shares of Automatic Data Processing have risen 43.4% compared with the 30.4% growth of the industry it belongs to.
Image Source: Zacks Investment Research
Solid Rank: ADP currently carries a Zacks Rank #2 (Buy). Our research shows that stocks with a Zacks Rank #1 (Strong Buy) or #2 offer attractive investment opportunities for investors.
Northward Estimate Revisions: Over the past 60 days, one earnings estimate for fiscal 2027 has moved northward, reflecting analysts’ confidence in the company. The Zacks Consensus Estimate for fiscal 2027 earnings has marginally increased during this period.
Positive Earnings Surprise: ADP has an impressive earnings surprise history. The company outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an earnings surprise of 2.1% on average.
Strong Growth Prospects: The Zacks Consensus Estimate for ADP’sfirst-quarter fiscal 2027 revenues is pegged at $5.47 billion, indicating a 5.6% increase from the year-ago quarter. For fiscal 2027, the consensus estimate is $23.25 billion, suggesting 6% year-over-year growth.
The consensus estimate for first-quarter earnings is pegged at $2.78 per share, indicating 11.7% year-over-year growth. For the full year, the consensus mark is pegged at $12.27 per share, implying 10.3% growth from the prior year.
Growth Factors:Strategic HCM Focus Supports Sustained Growth: Automatic Data Processing’s strategic priorities reinforce its competitive position as a global HCM and HR outsourcing provider. The company focuses on delivering best-in-class HCM technology, leveraging its expertise and outsourcing capabilities, and expanding its global scale. In fiscal 2026, revenues increased 7% to $21.9 billion, supported by 6% organic growth on a constant-currency basis. Management expects consolidated revenue growth of 5-6% in fiscal 2027. ADP’s focus on technology, outsourcing expertise and global reach should support client retention, deepen customer relationships and provide a foundation for sustained revenue growth.
AI Integration & Acquisitions Broaden Capabilities: ADP is leveraging artificial intelligence (AI) to improve productivity across products, services and sales. In fiscal 2026, ADP Assist handled 12 million conversations, while The Zone, ADP’s proprietary, AI-infused internal ecosystem and customer relationship management sales and service platform, reached 48% of service staff and helped reduce contacts per client by 4%. Management expects AI-driven efficiencies to support adjusted EPS growth in fiscal 2027. Strategic acquisitions have also expanded ADP’s HCM capabilities. WorkForce Software strengthened global workforce management, while Pequity added AI-enabled compensation planning tools. Growth in global time bookings in fiscal 2026 reflected adoption of WorkForce Software’s solution. These initiatives should improve efficiency, deepen client engagement and support long-term growth.
Healthy Cash Flow Supports Financial Flexibility: ADP’s cash generation and liquidity position support financial obligations and shareholder returns. At the end of the fourth quarter of fiscal 2026, cash and equivalents stood at $4.23 billion against long-term debt of $4.96 billion. Fiscal 2026 operating cash flow rose to $5.44 billion from $4.94 billion a year earlier, exceeding the year-end balance of long-term debt. The current ratio stood at 1.05, while commercial paper borrowings declined to zero from $4.77 billion in fiscal 2025. Continued cash generation and access to short-term funding should support ADP’s financial flexibility and capital allocation priorities.
Consistent Capital Returns Support Shareholder Value: ADP continues to reward shareholders through dividends and buybacks. Dividends paid rose to $2.63 billion in fiscal 2026 from $2.40 billion in fiscal 2025 and $2.18 billion in fiscal 2024. Share repurchases totaled $2.08 billion in fiscal 2026. Sustained cash generation should support future distributions while maintaining financial flexibility.
Other Stocks to ConsiderA couple of other top-ranked stocks in the broader Computer and Technology sector are Analog Devices, Inc. (ADI - Free Report) and Applied Materials, Inc. (AMAT - Free Report) .
Analog Devices sports a Zacks Rank #1 at present. It has a long-term earnings growth expectation of 25%. ADI delivered a trailing four-quarter earnings surprise of 4.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Applied Materials also flaunts a Zacks Rank of 1 at present. It has a long-term earnings growth expectation of 28.1%. AMAT’s earnings beat estimates in each of the trailing four quarters, with the surprise being 5.5%, on average.
Yield alone tells you nothing about whether a dividend actually survives a recession or a patent cliff. These five stocks have built long streaks of consecutive raises from businesses that look nothing alike, and the reasons behind that staying power…
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Yield is relatively easy to find. A dividend that keeps arriving through recessions, patent cliffs and housing slumps is much harder to find, and that kind of reliability is the hook for this group. Every name below covers its payout with real cash flow, has a long record of raises and keeps its payout ratio at a level that leaves room for mistakes. Procter & Gamble (NYSE:PG | PG Price Prediction) sets the standard: management says its latest increase marks the 70th consecutive year of dividend increases and 136th consecutive year of dividend payments, putting it firmly in the Dividend Kings club (we ranked ten of them by valuation in a free report here). The other four pair long dividend records with cash flow that covers the payout.
Johnson & Johnson: 64 Straight Raises With Cash to Spare Johnson & Johnson (NYSE:JNJ) yields 2.05% at a recent price of $254. It pays $1.34 per quarter, or $5.24 a year per share.
Dividend safety: The annual dividend uses about 61% of trailing GAAP EPS of $8.63, and that EPS figure already reflects legal charges. Free cash flow was $19.7 billion last year, roughly 1.56 times the current dividend run rate of about $12.6 billion. Management expects full-year free cash flow approaching $21 billion. Net debt is a manageable approximately $28 billion, with about $21 billion in cash and marketable securities. The board’s latest raise lifted the quarterly payout from $1.30, which the company says marks 64 consecutive years of dividend increases.
Bull case: Johnson & Johnson has 28 products and platforms that each bring in more than $1 billion a year. As the chief financial officer put it on the second-quarter call, “We are not dependent on one or two products.” Management also said it remains “committed to returning capital directly to shareholders, primarily through our dividend.” The stock slipped 7.71% over the past month, so the yield is slightly higher than it was a month ago.
Risk: Stelara is losing sales fast to biosimilars. Its sales fell 55.7% in the second quarter, and newer drugs have to keep making up the difference.
Procter & Gamble: 136 Years of Checks Backed by Growing Free Cash Flow Procter & Gamble yields 2.94% at $147.95, the highest yield in this group. The quarterly dividend rose to $1.0885 from $1.0568.
Dividend safety: The annual dividend of $4.259 per share uses about 62% of core EPS of $6.89. Free cash flow rose 12.7% to $15.84 billion. That covers the roughly $10 billion in planned dividends about 1.58 times, and the company still plans to spend ~$5 billion on buybacks. The dividend record shows the quarterly payment rising from $0.285 in 1999 to today’s rate.
Bull case: Guidance calls for core EPS of $6.89 to $7.11 and organic sales growth of 1% to 3%. That is slow growth, but it is reliable. The stock is roughly flat over the past year (-0.02%) and trades at 21 times forward earnings, so income buyers are not paying a premium for momentum. Its beta of 0.377 shows how little the stock tends to move with the broader market.
Risk: P&G expects a ~$1 billion after-tax commodity, energy and transport headwind, which the company estimates is about an 8% drag on core EPS growth. That leaves less room for big dividend increases.
Coca-Cola: Low Leverage and Cash Flow That Clears the Payout Coca-Cola (NYSE:KO) yields 2.43% at $86.63, after the quarterly dividend rose to $0.53 from $0.51.
Dividend safety: The $2.08 annual dividend uses about 62% of trailing EPS of $3.33. Full-year free cash flow guidance of ~$12.4 billion covers roughly $10 billion in planned dividends about 1.24 times. The chief financial officer reported net debt leverage of 1.4 times EBITDA, which is below our target range of 2 to 2.5 times, and interest coverage stands at 8.3x. In the dividend record, the quarterly payment rises from $0.16 in 1999 to today’s level.
The bull case is straightforward: The business is growing. Management expects organic revenue growth of approximately 5% and comparable EPS growth of 9 to 10%. Trademark Coca-Cola posted volume growth of 5% for the quarter, its strongest volume growth in 17 years, excluding COVID recovery. The stock is up 26.33% year to date, and it outperformed competitors again on Monday on a strong trading day.
Risk: Coca-Cola is still fighting ongoing IRS tax litigation. A bad result would take cash that could otherwise go toward dividend growth.
ADP: Payroll Cash Flow That Pays for Raises and Buybacks ADP (NASDAQ:ADP) yields 2.58% at $260.11. Its quarterly dividend rose to $1.70 from $1.54.
Dividend safety: The $6.64 annual dividend uses about 61% of trailing EPS of $10.94. Operating cash flow rose 10% to $5.44 billion, roughly 2.07 times the $2,626.3 million paid in dividends. ADP also spent $2,083.3 million on buybacks. The dividend record shows the quarterly payment rising from $0.07625 in 1999 to today’s rate. The chief financial officer pointed to the company’s “longstanding commitment to growing our dividend.”
Bull case: Clients rarely leave. Employer Services retention was 92.1%, and interest earned on client funds rose 15% to $355M in the fourth quarter. Guidance calls for adjusted EPS growth of 9% to 11%. Management summed up the appeal: “The workforce is changing, but the need to manage people, pay them accurately and remain compliant is not.”
Risk: ADP’s outlook for U.S. pays per control growth is just 0% to 1%, a sign that hiring is soft. That would slow the per-employee revenue that funds future raises.
Lowe’s: Lowest Payout Ratio in the Group After a Steep Sell-Off Lowe’s (NYSE:LOW) yields 2.68% at $180. Its quarterly dividend rose to $1.25 from $1.20.
Dividend safety: The $4.85 annual dividend uses only about 41% of trailing EPS of $11.74, the lowest payout ratio of the five. Its free cash flow yield of 7.60% is about 2.9 times its dividend yield on the same pricing basis. The balance sheet is the weak spot. Shareholders’ equity is negative because of years of buybacks, net debt/EBITDA is 3.54 and interest coverage is 6.6x. The dividend record shows the quarterly payment rising from $0.16 in 2013 to today’s level.
Bull case: Shares are down 24.21% year to date and trade at 15 times trailing earnings. That is the lowest multiple in this group, compared with 29 for Johnson & Johnson and 26 for Coca-Cola. Same-store sales were positive for the fifth consecutive quarter, and the company returned $673M to shareholders through dividends in its latest quarter alone.
Risk: Do-it-yourself spending remains under pressure. Comparable transactions fell 2.1%, and gross margin contracted 77 bps as slow home sales hold back big projects.
Five Payouts Built to Keep Arriving Each of these five has a payout ratio at or below about 62% of earnings and free cash flow (or, for ADP, operating cash flow) that well tops the dividend bill. Each also has a dividend record that shows decades of rising checks. Johnson & Johnson and Procter & Gamble have the longest documented streaks, Coca-Cola and ADP back their payouts with steady cash flow and Lowe’s has the most coverage at the lowest valuation. Together they show records of dividend increases from businesses that look very different from one another.
Contact [email protected] for any questions or corrections.
, /PRNewswire/ -- For the four weeks ending September 19, 2026, U.S. private employers added an average of 23,750 jobs per week, according to the NER Pulse, a weekly update of the monthly ADP National Employment Report (NER).
Hiring accelerated for the fifth week. These numbers are preliminary and could change as new data is added.
ADP Research Week ending
Change
(Four-week moving
average, seasonally
adjusted)
9/19/2026
23,750
9/12/2026
22,500
9/5/2026
20,000
8/29/2026
16,750
8/22/2026
12,250
8/15/2026
10,000
8/8/2026
11,750
8/1/2026
9,500
7/25/2026
8,250
7/18/2026
11,000
7/11/2026
14,500
7/4/2026
16,250
The NER Pulse is an estimate of the week-over-week change in employment based on a four-week moving average. These estimates are based on ADP's finely tuned, high-frequency data. The data is seasonally adjusted and have a two-week lag to allow for more complete and accurate estimates of real-time employment trends.
The NER Pulse, including 12 weeks of historical data, publishes every Tuesday at 8:15 a.m. ET, except weeks when ADP Research publishes the monthly National Employment Report which is built on a reference week that includes the 12th day of the month. The press release is available Tuesdays at 8:15 a.m. ET in the ADP Media Center. The NER Pulse is also available shortly after 8:15 a.m. ET on release days at ADP Research and in Main Street Macro.
The next NER Pulse will be released October 13, 2026. For upcoming release dates please refer to the calendar on the NER website.
The ADP National Employment Report and the NER Pulse are produced by ADP Research in collaboration with the Stanford Digital Economy Lab.
About ADP Research
The mission of ADP Research is to make the future of work more productive through data-driven discovery. Companies, workers, and policy makers rely on our finely tuned data and unique perspective to make informed decisions that impact workplaces around the world.
To subscribe to monthly email alerts or obtain additional information about ADP Research, including employment and pay data, methodology, and a calendar of release dates, please visit https://www.adpresearch.com.
About ADP (NASDAQ: ADP)
ADP has been shaping the world of work with innovation and expertise for more than 75 years. As a global leader in HR and payroll solutions, ADP continuously works to solve business challenges for our clients and their workers, from simple, easy-to-use tools for small businesses to fully integrated platforms for global enterprises – and everything in between. Always Designing for People means we're focused on just that – people. We use our unmatched AI-driven insights and proven expertise to design innovative solutions that help people achieve greater success at work. More than 1.1 million clients across 140+ countries rely on ADP's exceptional service to support their people and drive their business forward. HR, Talent, Time Management, Benefits, Compliance, and Payroll. Learn more at ADP.com.
ADP, the ADP logo, and Always Designing for People, ADP National Employment Report, and ADP Research are registered trademarks of ADP, Inc. All other marks are the property of their respective owners.
Rockland Trust Co. trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 14.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,496 shares of the business services provider’s stock after selling 3,098 shares during the period. Rockland Trust Co.’s holdings in Automatic Data Processing were worth $4,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. BlackRock Inc. purchased a new stake in shares of Automatic Data Processing in the 2nd quarter valued at $8,097,229,000. State Street Corp raised its holdings in shares of Automatic Data Processing by 0.7% during the fourth quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock worth $4,903,769,000 after purchasing an additional 133,039 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Automatic Data Processing by 4.6% during the fourth quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider’s stock worth $2,159,088,000 after purchasing an additional 372,413 shares during the last quarter. Bank of America Corp DE acquired a new position in Automatic Data Processing during the second quarter valued at $1,231,175,000. Finally, Deutsche Bank AG purchased a new stake in Automatic Data Processing in the second quarter valued at $994,937,000. Institutional investors and hedge funds own 80.03% of the company’s stock.
Automatic Data Processing Stock Up 0.4% ADP traded up $1.02 on Monday, hitting $258.70. 445,595 shares of the company were exchanged, compared to its average volume of 2,917,210. The firm has a 50-day moving average price of $271.90 and a two-hundred day moving average price of $237.76. The company has a market cap of $102.51 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $293.51. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the previous year, the business posted $2.26 EPS. The firm’s revenue was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, equities analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year. Automatic Data Processing Dividend Announcement The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were issued a $1.70 dividend. The ex-dividend date was Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.6%. Automatic Data Processing’s dividend payout ratio is presently 62.16%.
Analyst Ratings Changes ADP has been the topic of a number of analyst reports. Morgan Stanley raised their price objective on shares of Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Citigroup boosted their price target on Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Wells Fargo & Company increased their price objective on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Weiss Ratings upgraded Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, September 22nd. Finally, Cantor Fitzgerald upped their price objective on Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $273.50.
Get Our Latest Report on Automatic Data Processing
Insider Activity at Automatic Data Processing In related news, VP Joseph Desilva sold 631 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $282.87, for a total value of $178,490.97. Following the transaction, the vice president directly owned 18,824 shares of the company’s stock, valued at $5,324,744.88. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of Automatic Data Processing stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total value of $8,373,927.10. Following the sale, the chief executive officer owned 80,624 shares in the company, valued at $22,648,087.84. This trade represents a 26.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 33,773 shares of company stock worth $9,450,629. Corporate insiders own 0.15% of the company’s stock.
(Free Report)
Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management and business outsourcing solutions. The company helps organizations manage payroll, tax withholding and compliance, employee benefits, time and attendance, workforce management, talent acquisition, and human resources administration.
ADP offers cloud-based platforms and related services designed for businesses of different sizes, from small companies to large multinational employers. Its offerings include payroll and HR software, workforce analytics, talent management tools, retirement and insurance-related administration, and professional employer organization services through ADP TotalSource.
See Also Five stocks we like better than Automatic Data Processing A Manufacturing Surprise Could Be a Big Win for These 2 Companies What a $1 Billion Chip Deal Says About Amazon’s AI Ambitions 3 Stocks Benefiting From AI Demand Just Announced Major Buybacks Insiders Are Selling These 3 Stocks, Should You? Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report).
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Ferguson Wellman Capital Management Inc. decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 12.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,647 shares of the business services provider’s stock after selling 4,509 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Automatic Data Processing were worth $8,167,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Automatic Data Processing in the 2nd quarter worth about $8,097,229,000. State Street Corp lifted its holdings in Automatic Data Processing by 0.7% during the fourth quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock worth $4,903,769,000 after acquiring an additional 133,039 shares during the period. Capital Research Global Investors boosted its holdings in shares of Automatic Data Processing by 4.6% in the 4th quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider’s stock worth $2,159,088,000 after buying an additional 372,413 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Automatic Data Processing during the 2nd quarter worth approximately $1,231,175,000. Finally, Deutsche Bank AG purchased a new position in shares of Automatic Data Processing during the 2nd quarter valued at $994,937,000. 80.03% of the stock is owned by institutional investors.
Insider Buying and Selling at Automatic Data Processing In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $265.62, for a total value of $641,206.68. Following the completion of the sale, the vice president directly owned 9,660 shares of the company’s stock, valued at $2,565,889.20. The trade was a 19.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total value of $8,373,927.10. Following the completion of the sale, the chief executive officer owned 80,624 shares of the company’s stock, valued at $22,648,087.84. This represents a 26.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 33,773 shares of company stock worth $9,450,629 over the last three months. 0.15% of the stock is owned by company insiders.
Automatic Data Processing Stock Up 0.4% Shares of ADP traded up $1.02 during mid-day trading on Monday, reaching $258.70. The company had a trading volume of 445,595 shares, compared to its average volume of 2,917,210. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $293.51. The firm has a 50-day moving average price of $271.90 and a 200 day moving average price of $237.76. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $102.51 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. Automatic Data Processing (NASDAQ:ADP – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the prior year, the firm earned $2.26 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.
Automatic Data Processing Announces Dividend The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, September 11th. Automatic Data Processing’s payout ratio is 62.16%.
Wall Street Analyst Weigh In A number of research analysts have weighed in on the company. TD Cowen lifted their target price on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a report on Monday, July 6th. Cantor Fitzgerald upped their target price on shares of Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Weiss Ratings upgraded Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, September 22nd. Wells Fargo & Company upped their price objective on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Finally, Citigroup increased their price objective on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $273.50.
Read Our Latest Stock Analysis on ADP
(Free Report)
Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management and business outsourcing solutions. The company helps organizations manage payroll, tax withholding and compliance, employee benefits, time and attendance, workforce management, talent acquisition, and human resources administration.
ADP offers cloud-based platforms and related services designed for businesses of different sizes, from small companies to large multinational employers. Its offerings include payroll and HR software, workforce analytics, talent management tools, retirement and insurance-related administration, and professional employer organization services through ADP TotalSource.
Featured Articles Five stocks we like better than Automatic Data Processing A Manufacturing Surprise Could Be a Big Win for These 2 Companies What a $1 Billion Chip Deal Says About Amazon’s AI Ambitions 3 Stocks Benefiting From AI Demand Just Announced Major Buybacks Insiders Are Selling These 3 Stocks, Should You?
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The final trading day of this week also closes out the latest “Jobs Week” ahead of today’s open, with the Employment Situation report from the U.S. Bureau of Labor Statistics (BLS) posting a headline +29K new jobs created for September. This is well below the +84-90K anticipated. The Unemployment Rate ticked up 10 basis points (bps) to +4.2%, still an historically low number.
The prior two months saw downward revisions: August’s relatively robust +162K originally reported is now +133K, while July, originally posted at a loss of -23K and revised strongly upward to +21K a month ago, has now settled back to -10K on this final revision. The trailing four-month average in BLS jobs growth is now +46K — roughly in line with the projected number of retiring Baby Boomers per month — which is down from +67K new jobs created on average for the previous four months.
Thus, we’re basically flat on jobs growth currently. Healthcare led once again with +17K new hires last month, with +11K and +9K coming from Construction and Manufacturing, respectively — both good monthly tallies. Financial Activities, however, as we saw in ADP’s (ADP - Free Report) private-sector payrolls Wednesday, was negative: -7K.
One caveat to our overall agreeable employment situation these days is in the underperformance in Average Hourly Earnings: +0.1% versus expectations of +0.3%, to an overall average of $37.81 per hour. This is the lightest print since December of last year, and is clearly not keeping up with inflation. (The Inflation Rate on August CPI was +0.4% month over month.) Considering the pain Americans currently feel in the economy anecdotally, this line item seems to speak louder than most.
Elsewhere, little if any surprises: Average Workweek was steady month over month at 34.4 hours — still historically low. Labor Force Participation ticked up 20 bps from expectations to 61.8%, but this remains on the thin side. The U-6 level — aka “real unemployment” — was 10 bps lower than anticipated at +7.6%, the lowest figure since January of 2025.
Pre-Market Futures Soar on Weaker Jobs Numbers
Immediately upon this lackluster jobs report hitting the tape, bond yields started to bid downward: the all-important 10-year went from +5.226% to +5.167%, the 2-year from +4.775% to +4.716%, and the 30-year (which helps predict mortgage rates) from +5.592% modestly lower to +5.572%. Major stock market indexes took these numbers and ran: the Dow rose +460 points, the Nasdaq +375 and the S&P 500 +71 points.
We’ll see August Factory Orders after today’s open, but otherwise we’ll be pretty quiet on the economic market front today and through next week. Delta Air Lines (DAL - Free Report) will quietly kick off earnings season next Thursday morning, but the big banks like JPMorgan (JPM - Free Report) and Citigroup (C - Free Report) don’t report until the following week.
Therefore, we will once again keep an eye on the Strait of Hormuz and the projected fallout in the upcoming midterm elections, which are a month from next Tuesday. Clearly, equities traders are in a buying mood this morning after a less-than-stellar September, so we’ll see if this can continue.
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Very favorable economic reports out this morning saw flattish pre-market trading indexes flip into the green within moments. We’ve ebbed a tad from the initial impact of Personal Consumption Expenditures (PCE) for August and private-sector payrolls from Automatic Data Processing (ADP - Free Report) for September, but are +116 points on the Dow at this hour, +20 points on the S&P 500, +71 points on Nasdaq and +9 points on the small-cap Russell 2000.
PCE Inflation Much Healthier than AnticipatedFirst, the inflation news: Personal Income for August reached just +0.2%, half of the +0.4% reported for July. Consumer Spending last month came in slightly higher: +0.9% versus +0.8% expected, leaping above the +0.2% from the previous month. Generally speaking, we’d rather see spending not be more than 4x income, but the rest of today’s PCE numbers are very accommodative.
Headline PCE Price Index matched the +0.3% analysts had been expecting, up from a downwardly revised +0.1% for July. Year over year, +3.4% was 30 bps below projections, matching the -30 bps downward revision the prior month. This is big news: after May’s print of +4.1% PCE inflation threatened to bound higher into the second half of 2026, we’ve instead cooled off to our lowest levels since February.
Core PCE month over month was also cooler: +0.2% versus +0.3% expected, following a downwardly adjusted +0.1% for July. Year over year, another -30 bps drop from estimates — with another -30 bps downward revision the prior month — came down to +3.0%, again the lowest PCE inflation read we’ve seen since February.
So then, seven months into the war with Iran that saw oil prices surge with the closure of the Strait or Hormuz, PCE inflation rates are suddenly back down to where they were then. Economists could scarcely have dreamed up a more favorable set of data points. And the Fed, which for years cited PCE numbers as its preferred rate of inflation, has just been given a pass from raising interest rates in October. This likely accounts for much of the pre-market moves higher.
ADP Private Sector Payrolls Better than ExpectedThis morning’s private-sector payrolls from ADP more than doubled expectations for September: +90K versus +68K consensus. This is the first up-month since May, which was also the last time this print reached tripled digits. It’s a healthy read, accounting for the month’s worth of retirees and then some. It also follows a downwardly revised +36K for August.
A relatively “normal” balance between Goods (+31K) and Services (+59K) was also a welcome bit of news. In terms of business size, small firms (fewer than 50 employees) brought in +33K new private-sector jobs, large corporations (greater than 500 employees) added +14K new hires, and medium-sized companies gained the lion’s share: +54K.
In terms of industry, Education/Healthcare once again led the way with +55K new private-sector hires, followed by Leisure/Hospitality at +22K, Manufacturing with +17K and Construction +15K. This demonstrates nice distribution across the economic spectrum for the private-sector labor market. One notable exception is Financial Activities, which was -16K last month.
Those who remained at their current jobs, the Job Stayers, averaged +3.0% wage growth year over year for the month, while Job Changers averaged +4.8%, up 10 basis points (bps) from a month ago, but still on the lean side compared to when this metric was first introduced a few years ago. ADP Chief Economist Nela Richardson called it “a strong report” after “job creation rebounded and pay growth remained solid.”
, /PRNewswire/ -- Private-sector employment increased by 90,000 jobs in September, according to the ADP National Employment Report® produced by ADP Research in collaboration with the Stanford Digital Economy Lab ("Stanford Lab").
Base pay for private-sector workers rose 3.2% and gross pay was up 4.7% year over year, according to ADP Pay Insights.
ADP Research Base pay for job-stayers rose 3.0% year-over-year; base pay for job-changers increased 4.8%. Gross pay for job-stayers rose 4.4% year-over year; gross pay for job-changers increased 7.3%. The ADP National Employment Report is an independent measure of the labor market based on the anonymized weekly payroll data of more than 26 million private-sector employees in the United States. ADP Pay Insights uses payroll transaction data to compare the wage growth of individual workers over 12-month intervals, resulting in more than 14.7 million year-over-year pay-change observations each month.
Together, these reports use ADP's finely-grained data to provide a representative and high-frequency picture of the private-sector labor market.
"It's a strong report," said Dr. Nela Richardson, chief economist, ADP. "After a three-month slowdown, job creation rebounded and pay growth remained solid."
September 2026 Report Highlights
View the ADP National Employment Report and interactive charts at www.adpemploymentreport.com.
EMPLOYMENT REPORT
Private employers added 90,000 jobs in September
Hiring accelerated for the first time since May, led by education and health care and leisure and hospitality. Financial activities and professional and business services showed weakness.
Change in U.S. Private Employment: 90,000
Change by Sector
- Goods-producing: 31,000
Natural resources and mining -1,000 Construction 15,000 Manufacturing 17,000 - Service-providing: 59,000
Trade, transportation, and utilities 0 Information 3,000 Financial activities -16,000 Professional and business services -11,000 Education and health services 55,000 Leisure and hospitality 22,000 Other services 6,000 Change by U.S. Regions
- Northeast: 56,000
New England 9,000 Mid-Atlantic 47,000 - Midwest: 5,000
East North Central -10,000 West North Central 15,000 - South: 11,000
South Atlantic -10,000 East South Central -1,000 West South Central 22,000 - West: 17,000
Mountain 18,000 Pacific -1,000 Change by Establishment Size
- Small establishments: 23,000
1-19 employees 18,000 20-49 employees 5,000 - Medium establishments: 54,000
50-249 employees 18,000 250-499 employees 36,000 - Large establishments: 14,000
500+ employees 14,000 PAY INSIGHTS
ADP Pay Insights provides base pay growth and gross pay growth data across worker mobility, demographics, sector, employer size, pay quartile, and 56 U.S. metropolitan areas. The report also now offers pay growth distribution and an interactive data platform.
Base pay growth was little changed in September
Pay rose 3.0 percent for job-stayers year over year, and 4.8 percent for job-changers.
Visit our interactive platform for more information.
Median Change in Base Pay
All workers 3.2% Job-stayers 3.0% Job-changers 4.8% Median Change in Gross Pay
All workers 4.7% Job-stayers 4.4% Job-changers 7.3% Median Change in Base Pay by Sector
- Goods-producing:
Natural resources and mining 3.3% Construction 4.0% Manufacturing 3.5% - Service-providing:
Trade, transportation, and utilities 3.4% Information 3.1% Financial activities 3.5% Professional and business services 3.2% Education and health services 3.0% Leisure and hospitality 3.0% Other services 3.0% Median Change in Base Pay by Firm Size
- Medium firms:
50-249 employees 3.5% 250-499 employees 3.3% - Large firms:
500+ employees 3.2% To see Pay Insights by U.S. Metro, Gender, Age, and Pay Quartile, please visit https://payinsights.adp.com/
The August total number of jobs added was revised from 38,000 to 36,000.
Beginning with this month's release, the National Employment Report incorporates first-quarter Quarterly Census of Employment and Wages (QCEW) data issued by the Bureau of Labor Statistics on August 28, 2026.
For additional information about the ADP National Employment Report, including historical files, employment and pay data, methodology, and a calendar of release dates, please visit https://adpemploymentreport.com/.
The October 2026 ADP National Employment Report will be released on November 4, 2026 at 8:15 a.m. ET.
About ADP Research
The mission of ADP Research is to make the future of work more productive through data-driven discovery. Companies, workers, and policy makers rely on our finely tuned data and unique perspective to make informed decisions that impact workplaces around the world.
To subscribe to monthly email alerts or obtain additional information about ADP Research, including employment and pay data, methodology, and a calendar of release dates, please visit https://www.adpresearch.com.
About ADP (NASDAQ: ADP)
ADP has been shaping the world of work with innovation and expertise for more than 75 years. As a global leader in HR and payroll solutions, ADP continuously works to solve business challenges for our clients and their workers, from simple, easy-to-use tools for small businesses to fully integrated platforms for global enterprises – and everything in between. Always Designing for People means we're focused on just that – people. We use our unmatched AI-driven insights and proven expertise to design innovative solutions that help people achieve greater success at work. More than 1.1 million clients across 140+ countries rely on ADP's exceptional service to support their people and drive their business forward. HR, Talent, Time Management, Benefits, Compliance, and Payroll. Learn more at ADP.com
ADP, the ADP logo, and Always Designing for People, ADP National Employment Report, and ADP Research are registered trademarks of ADP, Inc. All other marks are the property of their respective owners.
(Kitco News) - The gold market is trying to find some stability but faces renewed headwinds as the U.S. private-sector labor market remains fairly resilient, according to the latest employment data from private payrolls processor ADP.
ADP said Wednesday that 90,000 jobs were created in September, up from 36,000 in August. The data significantly beat expectations, as consensus estimates had forecast a gain of 73,000 jobs.
The report noted that hiring accelerated for the first time since May, led by education and health care, as well as leisure and hospitality.
“It’s a strong report. After a three-month slowdown, job creation rebounded and pay growth remained solid,” said Dr. Nela Richardson, Chief Economist at ADP.
Gold prices saw some selling pressure in their initial reaction to the better-than-expected labor market data. Spot gold last traded at $4,184.40 an ounce, roughly flat on the day.
Analysts expect this week’s labor market data to have an outsized impact on gold prices. Some analysts have said that the precious metal needs to see significant weakness in the labor market to ignite a new rally back above $4,300 an ounce.
According to economists, the healthy labor market data gives the Federal Reserve room to continue fighting inflation pressures. The U.S. central bank has said that bringing inflation back down to its 2% target remains its main priority as the U.S. labor market remains relatively stable.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
Private companies added a net 90,000 jobs in September, up from a revised 36,000 jobs added in August, ADP said. Economists had expected to see 68,000 new private-sector jobs added.
Key Takeaways "Jobs Week" Returns with ADP, BLS, JOLTS and Weekly Jobless ClaimsMicron Expected to Report 938% Earnings Growth WednesdayPCE Inflation Numbers Report Mid-Week Monday, September 28th, 2026
We kick off a new week of trading on the quiet side, but expect things to get noisy quickly. A full slate of economic reports await us, including a fresh palette of “Jobs Week” data, beginning Tuesday morning. Mid-week, we’ll also see what had been known as the Fed’s preferred inflation gauge for September and a key AI play reporting earnings.
After an up-week among major indexes, pre-market futures are in the red currently: the Dow -288 points, the Nasdaq -153 and the S&P 500 -26 points. The small-cap Russell 2000 is presently -13 points at this hour. Oil prices are back up more than +2.5% this morning, to $94 per barrel (/bbl) on WTI and $106/bbl on Brent crude.
We’re also seeing the highest rate on the 10-year Treasury bond since 2007, before the financial collapse which led to the Great Recession: +5.21%. The 2-year bond has reached its highest level since May of 2024 — back when we were in the midst of a 15-month run of +5.25-5.50% interest rates, while the 30-year yield has presently climbed to +5.53%.
What to Expect from the Stock Market This Week
Beginning tomorrow morning, “Jobs Week” data begins with the August print of Job Openings and Labor Turnover Survey (JOLTS). Expectations are for the headline to drift lower but remain within range, to 7.2 million job openings last month from 7.27 million reported the previous month. 12-month highs reached 7.58 million in April while the low came in December of last year: 6.55 million.
From there, we get a look at September labor force numbers, starting with Wednesday’s private-sector payrolls from Automatic Data Processing (ADP - Free Report) and ending with Friday morning’s non-farm payrolls and Unemployment Rate from the U.S. Bureau of Labor Statistics (BLS). In between, Thursday’s Weekly Jobless Claims appear. We also expect revisions from ADP’s +38K private-sector jobs in August and BLS’ 162K — a discrepancy of more than 3x.
Otherwise, we’ll see July Case-Shiller Home Price numbers and The Conference Board’s Consumer Confidence results for September on Tuesday. S&P and ISM Manufacturing PMI for September and Construction Spending for August appear Thursday, and August Factory Orders come out Friday.
Biggest of all, arguably, will be Personal Consumption Expenditures (PCE) for August. Both headline and core (subtracting food and energy expenditures) figures, year over year, are expected to tick down 10 basis points (bps) to +3.6% and +3.2%, respectively. These would signal still-higher-than-optimal inflation levels, but within a reasonably controlled range where inflation does not appear to be spiraling out of control.
Further, after Wednesday’s close, AI memory storage chipmaker Micron (MU - Free Report) posts fiscal Q4 results — expected to be among the best of any publicly traded stocks all year, AI or not: +937.95% earnings growth on +349.48% in higher revenues from a year ago. Shares of the stock are up +279% year to date and +590% over the past year. These numbers will be hard to beat, but Micron has not missed on earnings since fiscal Q2 of 2023.
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, /PRNewswire/ -- ADP (Nasdaq: ADP), a global leader in HR and payroll solutions, is scheduled to release its financial results for the first fiscal quarter ending September 30, 2026 before the opening of the Nasdaq on October 28, 2026.
ADP will also be hosting a conference call at 8:30 a.m. ET on October 28, 2026 to discuss these results. Maria Black, President & Chief Executive Officer, Peter Hadley, Chief Financial Officer and Matthew Keating, Vice President of Investor Relations, will be participating on the call.
Please note that ADP no longer publishes its financial results over a news wire service. Instead, the results will be posted on the Investor Relations section of adp.com. The company will issue an alert over a news wire to indicate the earnings materials are publicly available, including a link to those documents.
Investors and interested participants are invited to listen to the conference call and view the accompanying slide presentation via live webcast. The conference call will be webcast live on ADP's website at investors.adp.com and will be available for replay following the call. The slide presentation will be available shortly before the webcast.
About ADP (Nasdaq: ADP)
ADP has been shaping the world of work with innovation and expertise for more than 75 years. As a global leader in HR and payroll solutions, ADP continuously works to solve business challenges for our clients and their workers, from simple, easy-to-use tools for small businesses to fully integrated platforms for global enterprises – and everything in between. Always Designing for People means we're focused on just that – people. We use our unmatched AI-driven insights and proven expertise to design innovative solutions that help people achieve greater success at work. More than 1.1 million clients across 140+ countries rely on ADP's exceptional service to support their people and drive their business forward. HR, Talent, Time Management, Benefits, Compliance, and Payroll. Learn more at ADP.com
ADP, the ADP logo, and Always Designing for People are trademarks of ADP, Inc.
In a big blow for advocates of lowering interest rates, bond yields continue to escalate in Friday’s pre-market. We normally don’t talk about the 30-year bond yield, but this has risen to 20+ year highs this morning: +5.480%. The 10-year yield is now +5.188% and the 2-year is up to +4.906%. These numbers are telling us that there are investment options beyond the equities market, presently.
Pre-market futures are in the green at this hour — +111 points on the Dow, +110 on the Nasdaq and +17 points on the S&P 500. The small-cap Russell 2000 is up +4 points on the final trading day of the week. This may have to do with lower oil prices overnight: $92 per barrel (/bbl) on WTI and $104/bbl on Brent crude. These are obviously still elevated levels compared to where we were earlier in this seven-months-long conflict in Iran, but perhaps enough for bullish investors to find their sea legs again.
Durable Goods Orders Outperform ExpectationsThe August print for Durable Goods Orders came in at 0.0%, which is unremarkable until you look at what had been expected: -0.3%. This follows an unrevised +1.1% from July. Ex-transportation, we see this figure buoy up to +0.3%, which is down from +0.7% the prior month. Non-Defense, ex-aircraft — a proxy for “normal” business spending — reached a surprisingly high +1.6%, more than triple the +0.5% analysts were expecting.
Shipments also improved month over month: -0.2% in August, from -0.9% in July. All these numbers represent an expected reversion from the prior month’s rather widely dispersed Durable Goods report. And despite projections for the first negative headline since May, this big-ticket-order metric shows the American economy on firm footing.
What to Expect from the Stock Market Today and Next WeekAfter the opening bell, the final read on the University of Michigan Consumer Survey hits the tape. The preliminary report showed a dire 47.8, down from 51.7 the prior month. This is the lowest print since May’s all-time-low 44.8, as personal finances project weaker and business finances, while steady, are well below historic levels.
This report does not use the 50 level as a demarcation point between growth and loss. Rather, it is normalized against a baseline of 100, which means we are well off norms in terms of consumer outlook. Even our near-term high — July’s 55.2 — is on the low end of this well-regarded consumer survey.
Next week is “Jobs Week,” where JOLTS for August happen Tuesday, private-sector payrolls from ADP ((ADP - Free Report) are Wednesday, Weekly Jobless Claims are on their normal Thursday morning report schedule, and Friday brings us the Big Kahuna: non-farm payrolls from the U.S. Bureau of Labor Statistics. Estimates currently vary pretty widely: while +162K new jobs are expected to have been created in September, only +38K are expected on the ADP private-sector read.
, /PRNewswire/ -- ADP (Nasdaq: ADP), a global leader in HR and payroll solutions, announced today that David W. Kenny and Nancy McKinstry have been nominated to the Board of Directors in connection with ADP's Annual Meeting of Stockholders, set for November 11, 2026.
David W. Kenny has extensive experience in technology, artificial intelligence, data analytics, and consumer insights, as well as decades of executive leadership experience. He served as executive chairman of Nielsen Holdings plc, a private global measurement and data analytics company, from 2023 to 2025, and as chief executive officer from 2018 to 2023.
Nancy McKinstry brings deep global leadership experience and expertise in strategy, product innovation and technology, having served as chief executive officer and chair of the executive board of Wolters Kluwer N.V., a global information, software, and services provider, from September 2003 until February 2026.
"We believe David and Nancy will be outstanding additions to the ADP Board," said Thomas J. Lynch, independent non-executive chair of the Board for ADP. "Their extensive leadership experience, combined with deep expertise in strategy, technology and business transformation, will be tremendous assets to ADP as we continue to invest in our strategic growth initiatives, advance our product innovation and drive operational excellence."
"Today's clients need more than technology. They need a trusted partner that can help them navigate one of the most significant workforce transitions of our time with confidence," said Maria Black, president and chief executive officer of ADP. "David and Nancy are exceptional business leaders whose experience leading transformation, innovation, and growth will bring valuable perspectives to our Board as ADP continues to help businesses and their people thrive just as we have for generations."
Prior to Nielsen, Mr. Kenny held leadership roles at IBM as Senior Vice President of IBM Watson and IBM Cloud. He previously served as chief executive officer of The Weather Company and Digitas Inc. Mr. Kenny is a director of Flutter Entertainment plc and the chair of the board of directors of Best Buy Co., Inc. Mr. Kenny holds a Bachelor of Science from Kettering University and a Master of Business Administration from Harvard University.
Prior to serving as chief executive officer, Ms. McKinstry held a number of senior leadership roles at Wolters Kluwer, including chief executive officer of operations in North America, president of CT Corporation, and chief executive officer of CCH Legal Information Services. Ms. McKinstry began her career with Booz & Company (formerly Booz Allen Hamilton), an international management consulting firm, where she focused on assignments in the media and technology industries. Ms. McKinstry currently serves on the boards of Abbott Laboratories, Accenture plc and Mondelēz International, Inc. She holds a Bachelor of Arts from the University of Rhode Island and a Master of Business Administration from Columbia University.
Safe Harbor Statement
This document and other written or oral statements made from time to time by ADP may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature and which may be identified by the use of words like "outlook," "expects," "assumes," "projects," "anticipates," "estimates," "we believe," "could," "is designed to" and other words of similar meaning, are forward-looking statements. These statements are based on management's expectations and assumptions and depend upon or refer to future events or conditions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed. Forward-looking statements are subject to inherent risks and uncertainties. Factors that could cause actual results to differ materially from those contemplated by the forward-looking statements or that could contribute to such difference include: ADP's success in obtaining and retaining clients, and selling additional services to clients; the pricing of products and services; the success of our new solutions; our ability to respond successfully to changes in technology, including artificial intelligence; compliance with existing or new legislation or regulations; changes in, or interpretations of, existing legislation or regulations; overall market, political and economic conditions, including interest rate and foreign currency trends and inflation; competitive conditions; our ability to maintain our current credit ratings and the impact on our funding costs and profitability; security or cyber breaches, fraudulent acts, and system interruptions and failures, including as a result of artificial intelligence; employment and wage levels; availability of skilled associates; the impact of new acquisitions and divestitures; the impact of any uncertainties related to major natural disasters or catastrophic events; and supply-chain disruptions. The factors identified above are not exhaustive. ADP disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. These risks and uncertainties, along with the risk factors discussed under "Item 1A. Risk Factors" of our most recent Annual Report on Form 10-K, and in other written or oral statements made from time to time by ADP, should be considered in evaluating any forward-looking statements contained herein.
About ADP (NASDAQ: ADP)
ADP has been shaping the world of work with innovation and expertise for more than 75 years. As a global leader in HR and payroll solutions, ADP continuously works to solve business challenges for our clients and their workers, from simple, easy-to-use tools for small businesses to fully integrated platforms for global enterprises – and everything in between. Always Designing for People means we're focused on just that – people. We use our unmatched AI-driven insights and proven expertise to design innovative solutions that help people achieve greater success at work. More than 1.1 million clients across 140+ countries rely on ADP's exceptional service to support their people and drive their business forward. HR, Talent, Time Management, Benefits, Compliance, and Payroll. Learn more at ADP.com.
ADP, the ADP logo, and Always Designing for People are trademarks of ADP, Inc.
A bond coupon that felt safe a decade ago may be quietly bleeding your retirement dry, and Dave Ramsey's hurdle-rate math explains exactly why. The question is which assets can actually climb that bar year after year.
Key Takeaways ADP Assist logged 12M in FY26 conversations from 3.1M unique active users.The Zone reached 48% of ADP's service population, while users did 96% of service work on the platform.ADP expects Employer Services business bookings to grow 4-7% in FY27, aided partly by the Zone. ADP (ADP - Free Report) stock has risen 33.4% in the past six months. The company’s shares have outpaced the industry’s 30.3% return and the Zacks S&P 500 Composite's 19.1% advance in the same period.
6-Month Share Price Performance Image Source: Zacks Investment Research
Let us delve deeper into the factors that have contributed to the company’s outperformance.
ADP Assist & the Zone: AI Catalyst Driving GrowthADP launched ADP Assist agents in January 2026, expanding across payroll, benefits, HR and compliance. The company’s Human Capital Management agents are accessible to approximately all of the company’s more than 1.1 million clients. Notably, 3.1 million unique active users had 12 million conversations with ADP Assist during fiscal 2026. Embedding AI in clients’ workflows delivers real-time savings and improved accuracy.
The company’s proprietary AI-driven service platform, the Zone, is transforming service teams’ operations. This tool provides ADP’s teams with AI-backed recommendations, case summaries and contextual insights that enhance the quality and consistency of every interaction. The Zone was accessible to 10% of the company’s service population at the start of fiscal 2026, rising to 48% and outpacing the year-end target.
Strikingly, associates leveraging the Zone performed 96% of their service work on the platform. Using this tool enabled service teams to spend less time on administrative tasks and channel their productivity toward adding value for clients. The Zone can support stronger client engagement and retention.
During the fourth-quarter fiscal 2026 earnings call, Peter Hadley, the CFO, stated that the company expects Employer Services (“ES”) business bookings to increase 4-7%, partly driven by the Zone. Maria Black, the CEO, mentioned that ADP is confident in its ability to win deals consistently and create operational efficiencies, aiding the bottom line by leveraging the increasing adoption of AI tools across the company’s product set, service operations and sales.
Solid Bookings MomentumADP ended fiscal 2026 with business bookings in the ES segment increasing 6% year over year to $2.2 billion. It highlights the strength of its offerings and distribution capabilities, bolstering the company’s competitive position. Maria Black, the CEO, during the fourth-quarter fiscal 2026 earnings call mentioned that the company witnessed broad-based bookings growth with substantial contributions from its Small Business portfolio, ES, HR outsourcing, enterprise and international businesses.
The company ended fiscal 2026 with ES business bookings and ES retention coming in near or at the top of the prior fiscal 2026 guidance ranges. For fiscal 2027, management anticipates ES business bookings growth of 4-7%, strengthened by investments in sales force headcount growth and AI-driven tools like the Zone. Counting on growth in business bookings and optimism for future bookings, we expect ADP to witness strong revenue growth visibility and healthy customer demand for its offerings.
Lyric’s Adoption Supports ExpansionADP’s Lyric is gaining traction in the enterprise market with a 94% year-over-year upsurge in the number of live clients. Lyric’s pipeline improved 50% year over year, with new logos contributing 70% of the opportunities, while international sales made progress as well.
During the fourth quarter of fiscal 2026, the company closed deals with a digital transformation and IT consulting firm in France and two U.K.-based clients, a specialty chemicals company and a global manufacturer of accessibility solutions.
Zacks Rank & Stocks to ConsiderADP currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader Zacks Computer and Technology sector are Dell Technologies (DELL - Free Report) and NVIDIA (NVDA - Free Report) . These two companies presently flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Dell has a long-term earnings growth expectation of 38.4%. DELL delivered a trailing four-quarter earnings surprise of 29%, on average.
NVIDIA has a long-term earnings growth expectation of 14%. NVDA delivered a trailing four-quarter earnings surprise of 5.8%, on average.
, /PRNewswire/ -- For the four weeks ending September 5, 2026, U.S. private employers added an average of 20,000 jobs per week, according to the NER Pulse, a weekly update of the monthly ADP National Employment Report (NER).
Hiring accelerated for the third week. These numbers are preliminary and could change as new data is added.
ADP Research Week ending
Change
(Four-week moving
average, seasonally
adjusted)
9/5/2026
20,000
8/29/2026
16,750
8/22/2026
12,250
8/15/2026
10,000
8/8/2026
11,750
8/1/2026
9,500
7/25/2026
8,250
7/18/2026
11,000
7/11/2026
14,500
7/4/2026
16,250
6/27/2026
19,750
6/20/2026
21,000
The NER Pulse is an estimate of the week-over-week change in employment based on a four-week moving average. These estimates are based on ADP's finely tuned, high-frequency data. The data is seasonally adjusted and have a two-week lag to allow for more complete and accurate estimates of real-time employment trends.
The NER Pulse, including 12 weeks of historical data, publishes every Tuesday at 8:15 a.m. ET, except weeks when ADP Research publishes the monthly National Employment Report which is built on a reference week that includes the 12th day of the month. The press release is available Tuesdays at 8:15 a.m. ET in the ADP Media Center. The NER Pulse is also available shortly after 8:15 a.m. ET on release days at ADP Research and in Main Street Macro.
The next NER Pulse will be released October 6, 2026. For upcoming release dates please refer to the calendar on the NER website.
The ADP National Employment Report and the NER Pulse are produced by ADP Research in collaboration with the Stanford Digital Economy Lab.
About ADP Research
The mission of ADP Research is to make the future of work more productive through data-driven discovery. Companies, workers, and policy makers rely on our finely tuned data and unique perspective to make informed decisions that impact workplaces around the world.
To subscribe to monthly email alerts or obtain additional information about ADP Research, including employment and pay data, methodology, and a calendar of release dates, please visit https://www.adpresearch.com.
About ADP (NASDAQ: ADP)
ADP has been shaping the world of work with innovation and expertise for more than 75 years. As a global leader in HR and payroll solutions, ADP continuously works to solve business challenges for our clients and their workers, from simple, easy-to-use tools for small businesses to fully integrated platforms for global enterprises – and everything in between. Always Designing for People means we're focused on just that – people. We use our unmatched AI-driven insights and proven expertise to design innovative solutions that help people achieve greater success at work. More than 1.1 million clients across 140+ countries rely on ADP's exceptional service to support their people and drive their business forward. HR, Talent, Time Management, Benefits, Compliance, and Payroll. Learn more at ADP.com.
ADP, the ADP logo, and Always Designing for People, ADP National Employment Report, and ADP Research are registered trademarks of ADP, Inc. All other marks are the property of their respective owners.
Nykredit A S bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 165,295 shares of the business services provider’s stock, valued at approximately $37,018,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Compass Capital Management Inc. lifted its position in shares of Automatic Data Processing by 3.0% during the fourth quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock worth $52,400,000 after acquiring an additional 5,899 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Automatic Data Processing in the second quarter valued at $13,283,000. Royal Capital Wealth Management LLC bought a new stake in shares of Automatic Data Processing during the 2nd quarter valued at $1,226,000. Canada Pension Plan Investment Board purchased a new stake in Automatic Data Processing during the 2nd quarter worth about $152,706,000. Finally, Fulton Bank N.A. boosted its stake in Automatic Data Processing by 192.0% in the 2nd quarter. Fulton Bank N.A. now owns 7,165 shares of the business services provider’s stock worth $1,605,000 after purchasing an additional 4,711 shares during the period. 80.03% of the stock is owned by institutional investors.
Automatic Data Processing Stock Performance NASDAQ ADP opened at $271.22 on Friday. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $294.46. The company has a fifty day moving average of $269.12 and a 200-day moving average of $234.30. The company has a market capitalization of $107.74 billion, a P/E ratio of 24.79, a P/E/G ratio of 2.47 and a beta of 0.82. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.05. The firm had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year. Automatic Data Processing Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.16%.
Insider Buying and Selling at Automatic Data Processing In other Automatic Data Processing news, VP Joseph Desilva sold 631 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $282.87, for a total transaction of $178,490.97. Following the completion of the sale, the vice president directly owned 18,824 shares in the company, valued at $5,324,744.88. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $280.91, for a total value of $8,373,927.10. Following the transaction, the chief executive officer directly owned 80,624 shares in the company, valued at $22,648,087.84. This trade represents a 26.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 33,773 shares of company stock valued at $9,450,629. 0.20% of the stock is owned by insiders.
Analyst Ratings Changes ADP has been the topic of several analyst reports. Cantor Fitzgerald upped their price target on Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Guggenheim increased their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Morgan Stanley raised their price target on shares of Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. TD Cowen upped their price target on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Finally, Stifel Nicolaus increased their price objective on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $273.50.
Read Our Latest Stock Analysis on ADP
(Free Report)
Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management (HCM) solutions and business outsourcing services. The company helps organizations manage payroll, employment taxes, human resources administration, employee benefits, workforce management, talent management, and compliance.
ADP offers cloud-based products for businesses of different sizes, including payroll and HR platforms, time and attendance tools, recruiting and talent solutions, benefits administration, and data and analytics services.
Featured Stories Five stocks we like better than Automatic Data Processing J.B. Hunt’s Stock Plunges After Market Misprices Profit Warning 2 Stocks Breaking Out Post-FOMC With One Thing in Common Lennar’s Q3 Miss Hides a Stronger Operating Story Beneath the Housing Slump These 3 Stocks Are Drawing Insider Buyers for Very Different Reasons Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report).
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Gartner (NYSE:IT – Get Free Report) and Automatic Data Processing (NASDAQ:ADP – Get Free Report) are both large-cap industrials companies, but which is the better business? We will compare the two companies based on the strength of their earnings, risk, institutional ownership, profitability, valuation, analyst recommendations and dividends.
Valuation and Earnings This table compares Gartner and Automatic Data Processing”s revenue, earnings per share and valuation.
Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Gartner $6.50 billion 1.81 $729.23 million $11.15 16.67 Automatic Data Processing $21.95 billion 4.91 $4.41 billion $10.94 24.79 Automatic Data Processing has higher revenue and earnings than Gartner. Gartner is trading at a lower price-to-earnings ratio than Automatic Data Processing, indicating that it is currently the more affordable of the two stocks. Volatility & Risk Gartner has a beta of 0.96, indicating that its share price is 4% less volatile than the S&P 500. Comparatively, Automatic Data Processing has a beta of 0.82, indicating that its share price is 18% less volatile than the S&P 500.
Analyst Recommendations This is a breakdown of recent ratings for Gartner and Automatic Data Processing, as reported by MarketBeat.
Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Gartner 2 6 2 1 2.18 Automatic Data Processing 1 8 3 0 2.17 Gartner currently has a consensus target price of $187.30, indicating a potential upside of 0.79%. Automatic Data Processing has a consensus target price of $273.50, indicating a potential upside of 0.84%. Given Automatic Data Processing’s higher probable upside, analysts clearly believe Automatic Data Processing is more favorable than Gartner.
Insider and Institutional Ownership 91.5% of Gartner shares are owned by institutional investors. Comparatively, 80.0% of Automatic Data Processing shares are owned by institutional investors. 2.6% of Gartner shares are owned by company insiders. Comparatively, 0.2% of Automatic Data Processing shares are owned by company insiders. Strong institutional ownership is an indication that large money managers, hedge funds and endowments believe a stock will outperform the market over the long term.
Profitability This table compares Gartner and Automatic Data Processing’s net margins, return on equity and return on assets.
Net Margins Return on Equity Return on Assets Gartner 11.99% 525.46% 13.45% Automatic Data Processing 20.11% 71.34% 6.73% Summary Gartner beats Automatic Data Processing on 8 of the 15 factors compared between the two stocks.
About Gartner (Get Free Report)
Gartner, Inc. operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts. The Conferences segment offers executives and teams in an organization the opportunity to learn, share, and network. The Consulting segment offers market-leading research, custom analysis, and on-the-ground support services. This segment also offers actionable solutions for IT-related priorities, including IT cost optimization, digital transformation, and IT sourcing optimization. Gartner, Inc. was founded in 1979 and is headquartered in Stamford, Connecticut.
(Get Free Report)
Automatic Data Processing, Inc. provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions. Its offerings include payroll services, benefits administration, talent management, HR management, workforce management, insurance, retirement, and compliance services, as well as integrated HCM solutions. The PEO Services segment provides HR outsourcing solution to businesses through a co-employment model. This segment offers employee benefits, protection and compliance, talent engagement, expertise, comprehensive outsourcing, and recruitment process outsourcing services. Automatic Data Processing, Inc. was founded in 1949 and is headquartered in Roseland, New Jersey.
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, /PRNewswire/ -- For the four weeks ending August 29, 2026, U.S. private employers added an average of 16,250 jobs per week, according to the NER Pulse, a weekly update of the monthly ADP National Employment Report (NER).
Hiring increased for the second week. These numbers are preliminary and could change as new data is added.
ADP Research Week ending
Change
(Four-week moving
average, seasonally
adjusted)
8/29/2026
16,250
8/22/2026
12,250
8/15/2026
10,000
8/8/2026
11,750
8/1/2026
9,500
7/25/2026
8,250
7/18/2026
11,000
7/11/2026
14,500
7/4/2026
16,250
6/27/2026
19,750
6/20/2026
21,000
6/13/2026
24,250
The NER Pulse is an estimate of the week-over-week change in employment based on a four-week moving average. These estimates are based on ADP's finely tuned, high-frequency data. The data is seasonally adjusted and have a two-week lag to allow for more complete and accurate estimates of real-time employment trends.
The NER Pulse, including 12 weeks of historical data, publishes every Tuesday at 8:15 a.m. ET, except weeks when ADP Research publishes the monthly National Employment Report which is built on a reference week that includes the 12th day of the month. The press release is available Tuesdays at 8:15 a.m. ET in the ADP Media Center. The NER Pulse is also available shortly after 8:15 a.m. ET on release days at ADP Research and in Main Street Macro.
The next NER Pulse will be released September 22, 2026. For upcoming release dates please refer to the calendar on the NER website.
The ADP National Employment Report and the NER Pulse are produced by ADP Research in collaboration with the Stanford Digital Economy Lab.
About ADP Research
The mission of ADP Research is to make the future of work more productive through data-driven discovery. Companies, workers, and policy makers rely on our finely tuned data and unique perspective to make informed decisions that impact workplaces around the world.
To subscribe to monthly email alerts or obtain additional information about ADP Research, including employment and pay data, methodology, and a calendar of release dates, please visit https://www.adpresearch.com.
About ADP (NASDAQ: ADP)
ADP has been shaping the world of work with innovation and expertise for more than 75 years. As a global leader in HR and payroll solutions, ADP continuously works to solve business challenges for our clients and their workers, from simple, easy-to-use tools for small businesses to fully integrated platforms for global enterprises – and everything in between. Always Designing for People means we're focused on just that – people. We use our unmatched AI-driven insights and proven expertise to design innovative solutions that help people achieve greater success at work. More than 1.1 million clients across 140+ countries rely on ADP's exceptional service to support their people and drive their business forward. HR, Talent, Time Management, Benefits, Compliance, and Payroll. Learn more at ADP.com.
ADP, the ADP logo, and Always Designing for People, ADP National Employment Report, and ADP Research are registered trademarks of ADP, Inc. All other marks are the property of their respective owners.
Bank of America Corp DE acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,497,545 shares of the business services provider’s stock, valued at approximately $1,231,175,000. Bank of America Corp DE owned approximately 1.38% of Automatic Data Processing as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in ADP. BlackRock Inc. purchased a new position in shares of Automatic Data Processing in the 2nd quarter valued at about $8,097,229,000. State Street Corp lifted its position in shares of Automatic Data Processing by 0.7% during the 4th quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock worth $4,903,769,000 after buying an additional 133,039 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Automatic Data Processing by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 11,576,572 shares of the business services provider’s stock valued at $2,977,777,000 after buying an additional 136,876 shares in the last quarter. Capital Research Global Investors grew its position in shares of Automatic Data Processing by 4.6% in the 4th quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider’s stock valued at $2,159,088,000 after buying an additional 372,413 shares during the last quarter. Finally, Deutsche Bank AG acquired a new position in Automatic Data Processing in the second quarter valued at $994,937,000. Institutional investors and hedge funds own 80.03% of the company’s stock.
Wall Street Analyst Weigh In Several analysts have recently weighed in on ADP shares. BMO Capital Markets boosted their target price on Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Citigroup boosted their price objective on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Wells Fargo & Company lifted their target price on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Cantor Fitzgerald increased their price target on shares of Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Finally, Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $273.50.
Get Our Latest Report on ADP Automatic Data Processing Trading Up 3.1% NASDAQ ADP opened at $276.63 on Tuesday. The company has a market cap of $109.89 billion, a P/E ratio of 25.29, a P/E/G ratio of 2.43 and a beta of 0.82. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $294.93. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. The company has a 50-day moving average of $266.66 and a 200-day moving average of $232.81.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last released its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same period last year, the company earned $2.26 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, equities analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.
Automatic Data Processing Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.16%.
Insider Activity at Automatic Data Processing In other news, VP Joseph Desilva sold 631 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $282.87, for a total transaction of $178,490.97. Following the completion of the sale, the vice president directly owned 18,824 shares of the company’s stock, valued at $5,324,744.88. The trade was a 3.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian Michaud sold 120 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the sale, the vice president owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. The trade was a 0.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 33,773 shares of company stock worth $9,450,629 in the last 90 days. Company insiders own 0.20% of the company’s stock.
Automatic Data Processing Company Profile (Free Report)
Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management (HCM) solutions and business outsourcing services. The company helps organizations manage payroll, employment taxes, human resources administration, employee benefits, workforce management, talent management, and compliance.
ADP offers cloud-based products for businesses of different sizes, including payroll and HR platforms, time and attendance tools, recruiting and talent solutions, benefits administration, and data and analytics services.
See Also Five stocks we like better than Automatic Data Processing Analysts Are Punting Their Calls Into the Next Quarter After Adobe’s Mixed Earnings Institutional Money Is Pouring Into These 2 Altcoin ETFs The End of Big Tech Buybacks? Only One Hyperscaler Is Still Repurchasing Shares 3 Dividend Kings to Buy While They’re Still Beaten Down Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report).
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BOSTON--(BUSINESS WIRE)--Edelman Financial Engines (EFE), one of the nation's leading1 independent registered investment advisors, announced the launch of a new integrated, comprehensive workplace retirement solution for small and mid-sized business owners and their employees: Edelman Financial Engines Retirement & Employee Planning Solutions. Now available through ADP (NASDAQ: ADP), a premier provider of payroll, human capital management, and retirement services, the service includes EFE's.
Automatic Data Processing, Inc. (ADP) Citi's 2026 Global TMT Conference September 9, 2026 3:15 PM EDT
Company Participants
Peter Hadley - Chief Financial Officer
Conference Call Participants
Bryan Keane - Citigroup Inc., Research Division
Presentation
Bryan Keane
Citigroup Inc., Research Division
I'm Bryan Keane. I cover the Payments Processors and IT Services here at Citi. And we're excited to have ADP here for a fireside chat. We have Peter Hadley, who is the CFO and a long time ADP-er. I think it's been over 20 years, I think, at ADP. So he can tell us all the secrets of what goes in and out of ADP.
So I got a list of questions that I'll run through and then if you got any questions, you can just raise your hand and we can get a mic to you or I can ask a question for you. So with that, Peter, thanks for being here.
Peter Hadley
Chief Financial Officer
Thank you, Bryan. Good to be here. Thank you.
Question-and-Answer Session
Bryan Keane
Citigroup Inc., Research Division
So, I got to start with the obligatory question about the macro. And since you guys have an incredible holistic view. What could you call out or what appears to be kind of the strength you're seeing in the macro versus the weaknesses? Anything in particular that maybe your data sees that kind of are interesting insights over the last several months?
Peter Hadley
Chief Financial Officer
Yes, sure. I mean it's a super interesting macro environment. Obviously, lots going on. Oil prices, I think, have been watching during the day, but I think over $100 a barrel now and inflation rates north of 3%, at least in the most recent print. But for ADP, the main factors that drive our business are actually pretty stable. So employment situation being the predominant one, very much still a low
, /PRNewswire/ -- For the four weeks ending August 22, 2026, U.S. private employers added an average of 12,000 jobs per week, according to the NER Pulse, a weekly update of the monthly ADP National Employment Report (NER).
Hiring accelerated week over week. These numbers are preliminary and could change as new data is added.
ADP Research Week ending
Change
(Four-week moving
average, seasonally
adjusted)
8/22/2026
12,000
8/15/2026
10,000
8/8/2026
11,750
8/1/2026
9,500
7/25/2026
8,250
7/18/2026
11,000
7/11/2026
14,500
7/4/2026
16,250
6/27/2026
19,750
6/20/2026
21,000
6/13/2026
24,250
6/6/2026
30,750
The NER Pulse is an estimate of the week-over-week change in employment based on a four-week moving average. These estimates are based on ADP's finely tuned, high-frequency data. The data is seasonally adjusted and have a two-week lag to allow for more complete and accurate estimates of real-time employment trends.
Beginning with today's release, the NER Pulse incorporates first-quarter QCEW data issued by the Bureau of Labor Statistics on August 28, 2026.
The NER Pulse, including 12 weeks of historical data, publishes every Tuesday at 8:15 a.m. ET, except weeks when ADP Research publishes the monthly National Employment Report which is built on a reference week that includes the 12th day of the month. The press release is available Tuesdays at 8:15 a.m. ET in the ADP Media Center. The NER Pulse is also available shortly after 8:15 a.m. ET on release days at ADP Research and in Main Street Macro.
The next NER Pulse will be released September 15, 2026. For upcoming release dates please refer to the calendar on the NER website.
The ADP National Employment Report and the NER Pulse are produced by ADP Research in collaboration with the Stanford Digital Economy Lab.
About ADP Research
The mission of ADP Research is to make the future of work more productive through data-driven discovery. Companies, workers, and policy makers rely on our finely tuned data and unique perspective to make informed decisions that impact workplaces around the world.
To subscribe to monthly email alerts or obtain additional information about ADP Research, including employment and pay data, methodology, and a calendar of release dates, please visit https://www.adpresearch.com.
About ADP (NASDAQ: ADP)
ADP has been shaping the world of work with innovation and expertise for more than 75 years. As a global leader in HR and payroll solutions, ADP continuously works to solve business challenges for our clients and their workers, from simple, easy-to-use tools for small businesses to fully integrated platforms for global enterprises – and everything in between. Always Designing for People means we're focused on just that – people. We use our unmatched AI-driven insights and proven expertise to design innovative solutions that help people achieve greater success at work. More than 1.1 million clients across 140+ countries rely on ADP's exceptional service to support their people and drive their business forward. HR, Talent, Time Management, Benefits, Compliance, and Payroll. Learn more at ADP.com.
ADP, the ADP logo, and Always Designing for People, ADP National Employment Report, and ADP Research are registered trademarks of ADP, Inc. All other marks are the property of their respective owners.
California State Teachers Retirement System grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 22,166.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 140,971,822 shares of the business services provider’s stock after buying an additional 140,338,719 shares during the quarter. California State Teachers Retirement System owned 35.49% of Automatic Data Processing worth $31,570,640,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Imprint Wealth LLC purchased a new position in Automatic Data Processing in the third quarter worth $25,000. Cornerstone Financial Management LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth $26,000. Bard Associates Inc. acquired a new position in shares of Automatic Data Processing during the 4th quarter worth $28,000. Prosperity Bancshares Inc acquired a new position in shares of Automatic Data Processing during the 4th quarter worth $33,000. Finally, Wilkerson Advisory Group LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 80.03% of the company’s stock.
Insiders Place Their Bets In related news, CEO Maria Black sold 29,810 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the transaction, the chief executive officer directly owned 80,624 shares in the company, valued at approximately $22,648,087.84. This represents a 26.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Desilva sold 631 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total transaction of $178,490.97. Following the transaction, the vice president owned 18,824 shares in the company, valued at approximately $5,324,744.88. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 33,773 shares of company stock worth $9,450,629 in the last three months. Company insiders own 0.20% of the company’s stock.
Analysts Set New Price Targets ADP has been the subject of several recent analyst reports. Citigroup raised their price objective on shares of Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Guggenheim increased their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, July 30th. BMO Capital Markets increased their target price on shares of Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Cantor Fitzgerald lifted their price target on shares of Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Finally, Stifel Nicolaus boosted their price target on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $273.50. Read Our Latest Report on ADP
Automatic Data Processing Price Performance Shares of NASDAQ ADP opened at $277.62 on Tuesday. The firm’s 50-day moving average is $263.42 and its two-hundred day moving average is $230.79. The company has a market capitalization of $110.29 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 2.52 and a beta of 0.82. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $302.68. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The company had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter last year, the business posted $2.26 earnings per share. Automatic Data Processing’s revenue was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities analysts anticipate that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.
Automatic Data Processing Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a dividend of $1.70 per share. The ex-dividend date is Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.4%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.16%.
Automatic Data Processing Company Profile (Free Report)
Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.
ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.
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Expanded strategic partnership combines ADP's 77 years of HR, payroll, and compliance expertise with AWS cloud and AI capabilities to help ADP clients navigate the growing complexity of workforce management in the AI era.
, /PRNewswire/ -- Amazon Web Services (AWS), an Amazon.com company, and ADP, a global leader in HR and payroll solutions, today announced an expanded, strategic partnership. The partnership affirms AWS as ADP's strategic cloud provider, enabling its continued AI transformation and ongoing innovation of generative and agentic AI solutions for its more than 1.1 million clients across 140 countries and territories.
"ADP is setting the standard for how AI can transform human capital management at global scale," said Scott Liska, vice president at AWS. "By combining ADP's deep expertise in payroll and HR with AWS's comprehensive AI and cloud capabilities, this partnership gives companies a smarter and more efficient way to manage their people and orchestrate work across the employee lifecycle."
"AI is transforming how work gets done, but it also increases the complexity of managing a global workforce. Organizations need trusted partners that can combine advanced AI with deep domain expertise," said Sreeni Kutam, president of global product and innovation at ADP. "Through our partnership with AWS, we're delivering faster, more intelligent innovation that helps our clients make high-stakes workforce decisions with greater confidence. By combining AI innovation with human expertise, we are creating meaningful outcomes for employees, managers, HR professionals, and payroll practitioners."
The expanded partnership helps organizations navigate increasing HCM complexity with confidence. The partnership builds on years of collaboration between the two companies, including ADP's recent work with the AWS Generative AI Innovation Center, a global team of strategists and scientists that helps companies design, build, and launch generative and agentic AI solutions.
Key focus areas for collaboration across the two companies include:
A cloud foundation for scalable AI innovation: ADP is executing a strategic platform transformation initiative on AWS. For example, by implementing agentic services like AWS Transform and AWS Kiro, ADP used AI to accelerate the manual effort of bringing thousands of key applications to the cloud, such as tax and payroll systems. With its workflows on AWS, ADP can now more rapidly deploy new AI capabilities and scale services to meet client demand, all while maintaining enterprise-grade security and compliance standards across geographies. ADP Assist agents: Built on AWS with Amazon Bedrock, ADP Assist is an intelligent assistant that helps HR professionals automate tedious processes, identify and correct payroll anomalies, find answers to complex questions, and generate instant reports. ADP Assist agents, built with Amazon Bedrock AgentCore, serve as purpose-built agents for employees, managers, and HR and payroll practitioners that think, plan, and take action under human oversight. ADP Lyric HCM: AWS cloud and AI technology powers ADP's award-winning Lyric HCM platform. With ADP Assist integrated, Lyric unifies global HR, payroll, talent, and workforce management, providing enterprise organizations with customizable workflows, real-time analytics for decision making, and personalized employee experiences. Through collaboration with AWS, ADP implemented a generative AI-driven client onboarding process that reduced certain critical steps by greater than 50%. Global Data Platform: ADP leverages AWS to optimize the industry's largest workforce dataset into an intelligence foundation that powers AI HCM capabilities, including ADP Assist and its AI agents that work across ADP's solutions. This global data platform on AWS represents an unmatched industry dataset informed by 77 years of data and expertise spanning 42 million wage earners worldwide, providing the architecture for more personalized experiences for clients at scale, with security, privacy, and compliance embedded from the ground up. About AWS
Amazon Web Services (AWS) is guided by customer obsession, pace of innovation, commitment to operational excellence, and long-term thinking. By democratizing technology for nearly two decades and making cloud computing and generative AI accessible to organizations of every size and industry, AWS has built one of the fastest-growing enterprise technology businesses in history. Millions of customers trust AWS to accelerate innovation, transform their businesses, and shape the future. With the most comprehensive AI capabilities and global infrastructure footprint, AWS empowers builders to turn big ideas into reality. Learn more at aws.amazon.com and follow @AWSNewsroom.
About ADP (NASDAQ: ADP)
ADP has been shaping the world of work with innovation and expertise for more than 75 years. As a global leader in HR and payroll solutions, ADP continuously works to solve business challenges for our clients and their workers, from simple, easy-to-use tools for small businesses to fully integrated platforms for global enterprises — and everything in between. Always Designing for People means we're focused on just that – people. We use our unmatched AI-driven insights and proven expertise to design innovative solutions that help people achieve greater success at work. More than 1.1 million clients across 140+ countries rely on ADP's exceptional service to support their people and drive their business forward. HR, Talent, Time Management, Benefits, Compliance, and Payroll. Learn more at ADP.com.
Key Takeaways ADP stock has gained 26.4% in six months, while FY27 revenues are estimated to rise 6%.ADP's FY26 ES bookings topped $2.2B, retention hit 92.1% and AI helped lift ES margins 60 bps.ADP returned $2.63B in dividends and bought back $2.08B in FY26 despite PEO margin risks. ADP (ADP - Free Report) stock has risen 26.4% over the past six months, beating the industry and the Zacks S&P 500 Composite's returns of 11.3% and 13.8%, respectively.
6-Month Share Price Performance Image Source: Zacks Investment Research
TheZacks Consensus Estimate for ADP’s fiscal 2027 revenues is set at $23.3 billion, implying 6% year-over-year growth. For fiscal 2028, the consensus estimate is $24.6 billion, suggesting a 5.6% uptick from the preceding year’s actual.
For EPS, the consensus mark for fiscal 2027 is pegged at $12.26, indicating 10.3% year-over-year growth. The Zacks Consensus Estimate for fiscal 2028 EPS is pegged at $13.4, suggesting 9.3% growth.
Factors That Augur Well for ADP’s SuccessSolid Bookings & High Retention: ADP’s new Employer Services (ES) bookings for fiscal 2026 exceeded $2.2 billion, marking 6% year-over-year growth. The company ended the fourth quarter of fiscal 2026 on a stronger note, supported by the Small Business portfolio, Employer Services HR outsourcing, and the enterprise and international businesses. Contributions from Lyric, the WorkForce Suite and global payroll offerings acted as vital driving forces, supported by high seller productivity achieved through AI-driven tools like The Zone.
ES retention came in strong at 92.1% for fiscal 2026, beating the company’s expectations and touching the guidance roof. AI investments improved accuracy, directly supporting client retention. High ES bookings, supported by a solid retention rate, create a strong revenue pipeline, limiting churn.
AI-Fueled Margin Expansion: During the fourth-quarter fiscal 2026 earnings release, CFO Peter Hadley mentioned that the company is pleased with the productivity gains realized following the AI implementation in service tools and product innovation. The operational productivity gained through these investments was one of the cornerstones in driving a year-over-year expansion of 60 basis points (bps) in ES margins for fiscal 2026. We expect margins to expand as AI continues to raise ADP’s operational prowess, which is in line with management expecting an adjusted EBIT margin expansion of 70-90 bps for fiscal 2027.
Shareholder-Friendly Actions: ADP has maintained a consistent record of returning capital to shareholders through dividends and repurchases. In fiscal 2024, the company paid out dividends of $2.18 billion, which rose to $2.4 billion and $2.63 billion in fiscal 2025 and fiscal 2026, respectively. The company also repurchased $2.08 billion in shares in fiscal 2026. These distributions were supported by $5.4 billion in operating cash flow, reinforcing the durability of its capital-return capacity. Such actions not only attract income-seeking investors but also raise investors’ morale by enhancing the bottom line.
Risks Faced by ADPBleak Employment Growth Limits Revenues: In fiscal 2026, U.S. pay per control increased 1%. Management anticipates the growth rate to be flat to 1% for fiscal 2027. We expect these modest employment-growth expectations to limit the upside in employee-linked revenues, mainly in mid-market and enterprise ES.
PEO Margin Weakness: ADP’s PEO margins dipped 100 bps in the fourth quarter of fiscal 2026 due to faster growth in zero-margin pass-through revenues and higher workers’ compensation and selling expenses. Management expects PEO margins to contract further in fiscal 2027, with zero-margin pass-throughs rising faster than overall PEO revenues. Therefore, continued PEO margin pressure could offset margin gains partially elsewhere in the business.
Expected Retention Drag: For fiscal 2027, management expects a 10-30-bps drag in ES retention from its unchanged 92.1% in fiscal 2026. Management’s expectation is grounded in assuming a small pullback in retention based on the near-record levels that the company operates at across its business and potential out-of-business rates to increase in the down market. If retention falls as expected, then it could affect the revenue pipeline created by the company’s solid bookings.
ADP’s Zacks Rank & Stocks to ConsiderThe company currently has a Zacks Rank of #3 (Hold).
Some better-ranked stocks from the broader Zacks Computer and Technology sector are Arista Networks (ANET - Free Report) and Amkor Technology (AMKR - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks has a long-term earnings growth expectation of 22.7%. ANET delivered a trailing four-quarter earnings surprise of 8.9%, on average.
Amkor Technology has a long-term earnings growth expectation of 31.2%. AMKR delivered a trailing four-quarter earnings surprise of 43.6%, on average.
Analyst’s Disclosure: I/we have a beneficial long position in the shares of ADP either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Lots of information hits the tape this Thursday morning, as we see shifts based on early-morning commentary, along with key monthly and weekly data. Pre-markets are modestly mixed following an up-trading day Wednesday. The Dow is up another +250 points, the S&P 500 is +10, the Nasdaq is -14 points at this hour and the small-cap Russell 2000 is +7.
Fed Governor Chris Waller, offering his insights this morning in a Reuters “NEXT Newsmaker” interview, said that he expects the Fed will keep interest rates steady going forward as long as progress on inflation continues to be made. On the other hand, if tariff risks and other factors keep the inflation picture from improving, then a rate hike would be back on the table.
Bond yields seemed to react to this statement, lowering on the 10-year to +4.75% and the 2-year to +4.33%. Spot oil prices remain high — WTI at $92 per barrel (/bbl) and Brent crude at $96/bbl — as hostilities continue between the U.S. and Iran. We remain off the April and May highs, but significantly higher than the early July lows.
Key will be the next Inflation Rate report from the August Consumer Price Index (CPI), due a week from tomorrow. Last time around, we saw a still-high +3.7% headline inflation rate, with a much more agreeable +2.5% on the core print. It would appear much is resting on the shoulders of this upcoming report in determining the Fed’s next move. Keep in mind, however, President Trump’s selection of Fed Chair Kevin Warsh strongly suggests there is a bias toward not raising rates from the committee head.
Weekly Jobless Claims Remain in Good RangeInitial Jobless Claims for last week reached +206K, slightly above the +205K projected but below the upwardly revised +204K the previous week. We can see the tight band these numbers continue to sustain, but it is now the fifth week at +200K new claims or higher.
Continuing Claims were also very consistent: 1.779 million was a bit higher than the downwardly revised 1.771 million the prior week — again, seemingly refusing to reach the 1.8 million threshold, which itself would continue to indicate a healthy labor market environment. As it happens, we haven’t been above 1.8 million longer-term jobless claims in 10 weeks.
So far this “Jobs Week,” we’ve seen slightly lower-than-expected job openings in the July JOLTS report Tuesday and a mere +38K filled jobs in the private sector from August ADP (ADP - Free Report) (below the +45K analysts were looking for), and basically in-line on weekly jobless claims. Tomorrow’s Employment Situation report will hopefully show a bounceback from a loss of -23K jobs in July to +53K last month.
Trade Deficit Deepens, Productivity In-LineAlso this morning, the U.S. Trade Balance showed a deficit of -$88.6 billion in July, a slight improvement over the -$90 billion anticipated. However, it is the deepest deficit since the all-time low -$133 billion in March of 2025, and a sizable drop from the improved revision to -$71.2 billion revision for June.
Finally, Q2 non-farm Productivity figures are out this morning. The headline came in at +1.4%, in-line with expectations. Meanwhile, Q2 Unit Labor Costs were slightly below estimates: +1.2% versus +1.3%. Nothing will move the stock market trading needle from this data, but it is important to keep these numbers in minds when considering the overall health of the economy.
What to Expect from the Stock Market TodayAs always, we’ll keep an eye on the Strait of Hormuz and the White House to see what, if anything, is being done about ending the Iran war. The last thing anyone in this country wants is $100/bbl oil. Also, Canada’s tariffs on U.S. imports are scheduled for next Tuesday — the day after Labor Day. Will any negotiations transpire ahead of this deadline to keep the trade war from escalating?
Aside from Waller’s comments this morning, this afternoon we look toward comments from Fed Presidents Beth Hammack (Cleveland) and Austan Goolsbee (Chicago) at an online summit called “Connecting Communities.” Will they back up Waller’s comments about keeping interest rates steady so long as inflation rates do?
Key Takeaways Fed Governor Waller Issued Comments on the Inflation RateWeekly Jobless Claims Remain RestrainedTrade Deficit Slides Deeper, but Better than Expected Thursday, September 3rd, 2026
Lots of information hits the tape this Thursday morning, as we see shifts based on early-morning commentary, along with key monthly and weekly data. Pre-markets are modestly mixed following an up-trading day Wednesday. The Dow is up another +250 points, the S&P 500 is +10, the Nasdaq is -14 points at this hour and the small-cap Russell 2000 is +7.
Fed Governor Chris Waller, offering his insights this morning in a Reuters “NEXT Newsmaker” interview, said that he expects the Fed will keep interest rates steady going forward as long as progress on inflation continues to be made. On the other hand, if tariff risks and other factors keep the inflation picture from improving, then a rate hike would be back on the table.
Bond yields seemed to react to this statement, lowering on the 10-year to +4.75% and the 2-year to +4.33%. Spot oil prices remain high — WTI at $92 per barrel (/bbl) and Brent crude at $96/bbl — as hostilities continue between the U.S. and Iran. We remain off the April and May highs, but significantly higher than the early July lows.
Key will be the next Inflation Rate report from the August Consumer Price Index (CPI), due a week from tomorrow. Last time around, we saw a still-high +3.7% headline inflation rate, with a much more agreeable +2.5% on the core print. It would appear much is resting on the shoulders of this upcoming report in determining the Fed’s next move. Keep in mind, however, President Trump’s selection of Fed Chair Kevin Warsh strongly suggests there is a bias toward not raising rates from the committee head.
Weekly Jobless Claims Remain in Good Range
Initial Jobless Claims for last week reached +206K, slightly above the +205K projected but below the upwardly revised +204K the previous week. We can see the tight band these numbers continue to sustain, but it is now the fifth week at +200K new claims or higher.
Continuing Claims were also very consistent: 1.779 million was a bit higher than the downwardly revised 1.771 million the prior week — again, seemingly refusing to reach the 1.8 million threshold, which itself would continue to indicate a healthy labor market environment. As it happens, we haven’t been above 1.8 million longer-term jobless claims in 10 weeks.
So far this “Jobs Week,” we’ve seen slightly lower-than-expected job openings in the July JOLTS report Tuesday and a mere +38K filled jobs in the private sector from August ADP (ADP - Free Report) (below the +45K analysts were looking for), and basically in-line on weekly jobless claims. Tomorrow’s Employment Situation report will hopefully show a bounceback from a loss of -23K jobs in July to +53K last month.
Trade Deficit Deepens, Productivity In-Line
Also this morning, the U.S. Trade Balance showed a deficit of -$88.6 billion in July, a slight improvement over the -$90 billion anticipated. However, it is the deepest deficit since the all-time low -$133 billion in March of 2025, and a sizable drop from the improved revision to -$71.2 billion revision for June.
Finally, Q2 non-farm Productivity figures are out this morning. The headline came in at +1.4%, in-line with expectations. Meanwhile, Q2 Unit Labor Costs were slightly below estimates: +1.2% versus +1.3%. Nothing will move the stock market trading needle from this data, but it is important to keep these numbers in minds when considering the overall health of the economy.
What to Expect from the Stock Market Today
As always, we’ll keep an eye on the Strait of Hormuz and the White House to see what, if anything, is being done about ending the Iran war. The last thing anyone in this country wants is $100/bbl oil. Also, Canada’s tariffs on U.S. imports are scheduled for next Tuesday — the day after Labor Day. Will any negotiations transpire ahead of this deadline to keep the trade war from escalating?
Aside from Waller’s comments this morning, this afternoon we look toward comments from Fed Presidents Beth Hammack (Cleveland) and Austan Goolsbee (Chicago) at an online summit called “Connecting Communities.” Will they back up Waller’s comments about keeping interest rates steady so long as inflation rates do?
Questions or comments about this article and/or author? Click here>>
Key Takeaways ADP Saw 38K Gains in Private-Sector PayrollsFriday's Non-Farm Payrolls Expected to Be 53KBroadcom, HPE and Other Report Earnings After the Close Wednesday, September 2nd, 2026
Pre-market futures are mostly up but mildly mixed at this hour, minutes following the latest jobs report release, and after three-straight days of major indexes closing in the red. The Dow is +125 points at this hour, the S&P 500 is +5, the Nasdaq -33 points and the small-cap Russell 2000 +4.
The blue-chip Dow is currently led by Apple (AAPL - Free Report) after its transition from CEO Tim Cook to former Apple Hardware VP John Ternus, and Chevron (CVX - Free Report) as Venezuelan oil becomes available and the U.S. and Iran continue to trade blows in and around the Strait of Hormuz. The WTI spot oil price is $89 per barrel (/bbl) at this hour, with Brent crude up to $94/bbl.
Jobs Week Continues: ADP Sees +38K New Jobs Filled
It’s so far been an underwhelming “Jobs Week” — following yesterday’s less-than-expected 7.2 million job openings for July’s JOLTS report, this morning’s private-sector payrolls from Automatic Data Processing (ADP - Free Report) reached only +38K new jobs filled for August. This is below the +47K anticipated and the unrevised +44K from the prior month; in fact, it’s the weakest tally since January.
Services carried the full load of new private-sector hires: +48K, versus a loss of -10K from Goods-producing jobs. Small firms (sub-50 employees) hired the most, +23K, followed by large businesses (more than 500 employees) with +13K. Medium-sized companies hired +8K.
By sector, Education/Healthcare led, unsurprisingly, with +45K new hires in August. This was followed by Leisure/Hospitality at a distant second: +16K, and Construction third, +12K. Professional/Business Services lost -16K positions and Manufacturing -17K. We haven’t seen negative jobs gains from ADP in over a year, but the overall labor market looks pretty flat over the past three years.
Friday’s non-farm payrolls from the U.S. Bureau of Labor Statistics (BLS) is projected to grow by +53K jobs in August, which would be a solid bounce-back from the negative -23K in July. It would also be the first move up in the past five months of BLS jobs data. While these figures have been a bit more volatile month over month, we still look pretty flat going back to the start of 2025: +23K new jobs have been created per month, on average, since that time.
What to Expect from the Stock Market Today
After today’s open, Factory Orders for July come out. These are expected to rebound to +0.7% from a disappointing -0.3% reported for June. At 2pm, the Fed puts out its latest Beige Book — an economic summary from each of its 12 districts, released eight times per year.
Also, just when you thought earnings season was over, Broadcom (AVGO - Free Report) reports quarterly results after today’s close. They will be joined by Hewlett-Packard Enterprises (HPE - Free Report) , cloud storage major Snowflake (SNOW - Free Report) and Calvin Klein/Tommy Hilfiger parent PVH Corp. (PVH - Free Report) , among others.
Questions or comments about this article and/or author? Click here>>
(Kitco NewsWire) - Spot gold and silver prices are higher in early U.S. trading Wednesday, as softer-than-expected ADP private-payrolls data gave metals a relief bid after a two-session selloff driven by higher oil prices, rising Treasury yields and firmer Fed-hike expectations. At the time of writing, spot gold was trading near $4,340.70 an ounce, up 0.30%, while spot silver was trading at $64.410, up 0.71% on the session.
The latest positioning remains centered on the labor-market sequence into Friday’s August nonfarm payrolls report. ADP said private employers added 38,000 jobs in August, below expectations and the slowest pace since January, giving gold a modest lift after Tuesday’s rout. The data were not enough to fully reverse the hawkish Fed trade, with markets still pricing roughly a 67% to 70% probability of a September rate hike as oil prices and global bond yields remain elevated. The 10-year Treasury yield is trading above 4.8%, while the 30-year yield is near 5.28%. The next catalysts are the Beige Book at 2 p.m. ET, Thursday’s weekly jobless claims and ISM services data, and Friday’s nonfarm payrolls report. For gold, weak labor data can trigger short-covering, but the rally will remain vulnerable unless yields and the dollar ease more decisively.
Gold and silver remain under pressure in the broader technical structure despite the morning bounce. Gold is holding above Tuesday’s low and above the $4,263 to $4,221 demand zone identified in the latest technical work, but it remains below the broken $4,422 support area. Silver has stabilized after losing $65.37 support, but it remains below the same level and below the $67.21 resistance area. The short-term setup is therefore a relief bounce inside a damaged chart, with Friday’s payrolls report likely to decide whether the move becomes a base or another lower high.
The Strait of Hormuz remains the main geopolitical channel into oil, inflation expectations and defensive demand. Fresh U.S.-Iran strikes have kept Brent crude near $95 and WTI above $90, while the conflict has revived concerns about mines and shipping disruption near the strait. The oil shock is limiting gold’s safe-haven response because higher crude feeds inflation expectations, lifts Treasury yields and increases the market’s conviction that the Fed may need another rate hike. For gold, the setup remains conflicted: Gulf escalation supports defensive demand, but the rates channel is still bearish for non-yielding metals.
Global markets were mixed ahead of the U.S. open. U.S. equity futures were steady to mixed as investors weighed softer ADP hiring against higher oil and bond yields. Nasdaq futures were slightly lower, while Dow and S&P 500 futures were little changed to modestly firmer. European markets were under pressure as the global bond selloff continued, while Asian markets were mixed, with South Korea hit by weakness in chip shares.
The key outside markets see Nymex WTI crude oil prices firmer and trading above $90 a barrel, while Brent crude was near $95. The yield on the benchmark 10-year U.S. Treasury note is trading above 4.8%. The U.S. dollar index is firmer. (Kitco Global Index shows how much of today's gold move is the dollar versus the gold market itself.)
Technically, spot gold bulls' next upside price objective is to push prices back above the $4,422.00 resistance level, with a sustained move targeting $4,487.00 and then $4,573.00. Bears' next near-term downside price objective is a break below $4,263.00, with deeper downside targets at $4,221.00 and then $4,150.00. First resistance is seen at $4,422.00 and then at $4,487.00. First support is seen at $4,263.00 and then at $4,221.00.
Spot silver bulls' next upside price objective is to drive prices back above $65.37, with a move above that level targeting $67.21 and then $68.74. The next downside price objective for the bears is a break below $62.57, with deeper downside targets at $60.92 and then $60.00. First resistance is seen at $65.37 and then at $67.21. Next support is seen at $62.57 and then at $60.92.
See live precious metals prices for gold, silver, platinum and palladium — in USD, CAD and 12 more currencies.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
, /PRNewswire/ -- Private-sector employment increased by 38,000 jobs in August, according to the ADP National Employment Report® produced by ADP Research in collaboration with the Stanford Digital Economy Lab ("Stanford Lab").
For all private-sector workers in the United States, base pay rose 3.2% and gross pay was up 4.7% year over year, according to ADP Pay Insights.
ADP Pay Insights now offers deeper analytics, expanded geographic data reporting across 56 metropolitan areas and an interactive website platform to compare various datasets. Key enhancements to the monthly report include base pay growth and gross pay growth across geography, worker mobility, demographics, sector, employer size, and pay quartile.
ADP Research Base pay for job-stayers rose 3.0% year-over-year; base pay for job-changers increased 4.7%.
Gross pay for job-stayers rose 4.4% year-over year; gross pay for job-changers increased 7.3%.
Beginning with today's release of the August 2026 data, ADP Pay Insights offers deeper analytics, expanded geographic data, and an interactive data platform. Key enhancements to the monthly report include tracking of the year-over-year change in base pay drawn from contracted pay rates in addition to the reported change in gross pay. Gross pay is drawn from base pay plus bonuses, commissions, tips, and other earnings. ADP Pay Insights also now reports pay trends for all workers, job-stayers and job-changers combined.
Data on base and gross pay is available for 56 U.S. metropolitan areas. Base and gross pay data also is available by worker mobility, demographics, sector, employer size, and pay quartile.
Base and gross pay each are valuable indicators of labor-market conditions. Base pay changes tend to be long-lasting, and any change in this structural metric can send a signal on labor-market tightness or inflationary pressure.
Gross pay measures total compensation generated by labor-market activity, data that can be used to assess income growth and consumer spending power. Changes in gross pay can tell us how employers are responding to atypical economic conditions.
The ADP National Employment Report is an independent measure of the labor market based on the anonymized weekly payroll data of more than 26 million private-sector employees in the United States. ADP Pay Insights uses payroll transaction data to compare the wage growth of individual workers over 12-month intervals, resulting in more than 14.7 million year-over-year pay-change observations each month.
Together, these reports use ADP's finely-grained data to provide a representative and high-frequency picture of the private-sector labor market.
"Pay can tell us a lot about today's choppy hiring. To understand hiring patterns, you have to look deeply into where pay growth is accelerating, where it's slowing, and for whom," said Dr. Nela Richardson, chief economist, ADP.
"Once predictable wage growth has been overtaken by complexities of demographic change, persistent inflation, and AI's effects on jobs," Richardson said. "Our new Pay Insights report, with its enhanced data, can more fully reveal the dynamics of today's labor market."
August 2026 Report Highlights
View the ADP National Employment Report and interactive charts at http://www.adpemploymentreport.com/.
EMPLOYMENT REPORT
Private employers added 38,000 jobs in August
Private employers posted their slowest pace of job creation since January. Manufacturing, professional services, and information shed jobs. Education and health care, construction, and leisure and hospitality all showed solid hiring.
Change in U.S. Private Employment: 38,000
Change by Sector
- Goods-producing: -10,000
Natural resources and mining -5,000 Construction 12,000 Manufacturing -17,000 - Service-providing: 48,000
Trade, transportation, and utilities -5,000 Information -4,000 Financial activities 6,000 Professional and business services -16,000 Education and health services 45,000 Leisure and hospitality 16,000 Other services 6,000 Change by U.S. Regions
- Northeast: 38,000
New England 12,000 Mid-Atlantic 26,000 - Midwest: 5,000
East North Central -15,000 West North Central 20,000 - South: 3,000
South Atlantic 14,000 East South Central -2,000 West South Central -9,000 - West: -8,000
Mountain -3,000 Pacific -5,000 Change by Establishment Size
- Small establishments: 3,000
1-19 employees 20,000 20-49 employees -17,000 - Medium establishments: 0
50-249 employees 2,000 250-499 employees -2,000 - Large establishments: 34,000
500+ employees 34,000 PAY INSIGHTS
ADP Pay Insights provides base pay growth and gross pay growth data across worker mobility, demographics, sector, employer size, pay quartile, and 56 U.S. metropolitan areas. The report also now offers pay growth distribution. Drawn from ADP's industry-leading workforce dataset, ADP Pay Insights uses payroll transaction data to provide a view on the wage dynamics of more than 14.7 million matched workers over a 12-month period.
"With its extended history, added dimensions of base pay and distribution, and granular metro information, Pay Insights more fully captures the pay structure of the U.S. labor market and how it's changing over time," said Liv Wang, lead data scientist, ADP Research.
"Our August release, for example, shows that pay growth has been decelerating for the past four years," Wang said. "Among lower-paid workers in particular, base pay growth has lost momentum and now is slower than it was prior to the pandemic."
Base pay growth slowed slightly in August
Pay growth for job-stayers was unchanged at 3 percent, while pay growth for job-changers edged down.
Gross pay growth slowed slightly in August
Pay growth for job-stayers was unchanged at 4.4 percent, while pay growth for job-changers slowed from 7.5 percent to 7.3 percent.
Visit our interactive platform for more information.
Median Change in Base Pay
All workers 3.2% Job-stayers 3.0% Job-changers 4.7% Median Change in Gross Pay
All workers 4.7% Job-stayers 4.4% Job-changers 7.3% Median Change in Base Pay by Sector
- Goods-producing:
Natural resources and mining 3.3% Construction 4.0% Manufacturing 3.5% - Service-providing:
Trade, transportation, and utilities 3.3% Information 3.1% Financial activities 3.5% Professional and business services 3.2% Education and health services 3.0% Leisure and hospitality 2.9% Other services 3.0% Median Change in Base Pay by Firm Size
- Medium firms:
50-249 employees 3.5% 250-499 employees 3.3% - Large firms:
500+ employees 3.2% To see Pay Insights by U.S. Metro, Gender, Age, and Pay Quartile, please visit https://payinsights.adp.com/.
The July total number of jobs added was revised from 44,000 to 46,000.
For additional information about the ADP National Employment Report, including historical files, employment and pay data, methodology, and a calendar of release dates, please visit https://adpemploymentreport.com/.
The September 2026 ADP National Employment Report will be released on September 30, 2026 at 8:15 a.m. ET.
About ADP Research
The mission of ADP Research is to make the future of work more productive through data-driven discovery. Companies, workers, and policy makers rely on our finely tuned data and unique perspective to make informed decisions that impact workplaces around the world.
To subscribe to monthly email alerts or obtain additional information about ADP Research, including employment and pay data, methodology, and a calendar of release dates, please visit https://www.adpresearch.com.
About ADP (NASDAQ: ADP)
ADP has been shaping the world of work with innovation and expertise for more than 75 years. As a global leader in HR and payroll solutions, ADP continuously works to solve business challenges for our clients and their workers, from simple, easy-to-use tools for small businesses to fully integrated platforms for global enterprises – and everything in between. Always Designing for People means we're focused on just that – people. We use our unmatched AI-driven insights and proven expertise to design innovative solutions that help people achieve greater success at work. More than 1.1 million clients across 140+ countries rely on ADP's exceptional service to support their people and drive their business forward. HR, Talent, Time Management, Benefits, Compliance, and Payroll. Learn more at ADP.com
ADP, the ADP logo, and Always Designing for People, ADP National Employment Report, and ADP Research are registered trademarks of ADP, Inc. All other marks are the property of their respective owners.
ADP said U.S. businesses created just 36,000 new jobs in august, a second small increase in a row that points to a slowdown in hiring during the summer.
(Kitco News) - After seeing significant selling pressure since the start of the week, the gold market is trying to find some solid ground as the private sector created fewer jobs than expected in August.
Private-sector payroll processor ADP said Wednesday that 38,000 jobs were created in August, down from 46,000 in July. The data came in weaker than expected, as consensus estimates had forecast a gain of 47,000 jobs.
The report said this was the slowest pace of job creation since January. The manufacturing sector led the broader economy in job losses, while professional services and information also shed workers.
The gold market is seeing limited buying interest in the initial reaction to the disappointing labor market data. Spot gold last traded at $4,335.20 an ounce, up 0.20% on the day.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
Key Takeaways Pre-Markets Are Lower on the 1st Day of SeptemberOil Prices, Bond Yields Rise as Hostilities in Iran ResumeJOLTS, Manufacturing Data Due After the Open Tuesday, September 1st, 2026
Futures in today’s pre-market — the 1st of September (“Kalo Mina!”) — are down following back-to-back lower trading days on the major indexes. It’s immediately very hard to resist noting that September is statistically the worst month for the stock market, with the S&P 500 and Dow averaging losses of -0.7% and -1.1%, respectively. But these numbers are skewed by a couple moments in history: the Panic of 1931 and the fall of Lehman Brothers in 2008.
September is also, historically, when we put our summer vacation pants away and get back to business. Fund managers tend to rebalance and sell losing positions which can later be written off taxes. It also doesn’t help this year when we see hostilities once again increasing at the Strait of Hormuz, as the U.S. war with Iran enters its seventh month. Oil prices are back up to the high-$80s (WTI) and low-$90s (Brent) per barrel, and bond yields continue to tick higher on the 2-year, 10-year and 30-year.
Currently, the Dow is giving back -360 points, once again trading below 53K (it was at 54,633 four weeks ago), the S&P 500 is -50 points (it had dipped below 7700 yesterday; it was over 7850 as of August 13th) and the AI-heavy Nasdaq is -375 points at this hour (essentially flat since breaking below 30K a few weeks back; all-time highs were set back in early June). The small-cap Russell 2000 is down -19 points to 2938; it was over 3K just a week go.
What to Expect from Today’s Stock Market
While we keep one eye trained on developments in the Middle East — although an end to the Iran war looks more remote than it has in weeks — while we also turn our attention to key economic reports released after today’s open. These include manufacturing PMI for August, and employment and construction data for July.
S&P Manufacturing PMI is expected to tick down slightly from the previous print: 53.5 from 53.9. ISM Manufacturing looks to perform similarly: 55.3 from 55.6 last time around. Both appear safely in growth territory (above 50). Construction Spending looks to rebound somewhat from its negative headline of -0.1% from June.
The Job Openings and Labor Turnover Survey (JOLTS) report for July has seen its forecast come down slightly in recent days — to 7.3 million job openings expected from the 7.4 million reported in last month’s report. We’ve basically hovered at this midpoint in JOLTS data between the all-time low at the end of the Great Recession (2.2 million) and highs ahead of the Fed moves during the Great Reopening (12.3 million).
Wednesday brings us ADP (ADP - Free Report) private-sector jobs numbers (47K expected for August) and Friday morning we get the big Employment Situation report (53K job gains expected). Over the past two years, job growth overall has been flat. While we’re unlikely to see a surge in employment higher in this week’s data, we are on a four-month downward swing.
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